Dolby Laboratories (DLB) Expected to Announce Quarterly Sales of $266.20 Million
Wall Street analysts predict that Dolby Laboratories (NYSE:DLB) will report $266.20 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Dolby Laboratories’ earnings, with the highest sales estimate coming in at $267.55 million and the lowest estimate coming in at $264.61 million. Dolby Laboratories posted sales of $266.27 million during the same quarter last year, which would indicate a negative year over year growth rate of 0%. The business is expected to announce its next quarterly earnings results on Wednesday, January 24th.
On average, analysts expect that Dolby Laboratories will report full-year sales of $266.20 million for the current fiscal year. For the next fiscal year, analysts expect that the firm will report sales of $1.23 billion per share, with estimates ranging from $1.21 billion to $1.24 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.18. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.73%. The company had revenue of $242.05 million for the quarter, compared to analyst estimates of $244.80 million. During the same period last year, the firm earned $0.37 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis.
A number of analysts recently issued reports on DLB shares. B. Riley restated a “dlb (” rating and set a $61.50 price objective on shares of Dolby Laboratories in a report on Wednesday, August 23rd. BidaskClub downgraded shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Zacks Investment Research downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.17.
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In other news, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $48.82, for a total value of $4,882,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Lewis Chew sold 17,000 shares of Dolby Laboratories stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $59.55, for a total transaction of $1,012,350.00. The disclosure for this sale can be found here. Insiders have sold 821,734 shares of company stock valued at $41,996,301 in the last 90 days. 43.80% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of DLB. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Dolby Laboratories by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after purchasing an additional 209 shares in the last quarter. US Bancorp DE increased its stake in shares of Dolby Laboratories by 2.6% in the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock worth $149,000 after purchasing an additional 78 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Dolby Laboratories by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 725 shares in the last quarter. Berkshire Asset Management LLC PA purchased a new position in shares of Dolby Laboratories in the third quarter worth about $200,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Dolby Laboratories in the third quarter worth about $204,000. Hedge funds and other institutional investors own 51.71% of the company’s stock.
Dolby Laboratories (DLB) opened at $60.05 on Tuesday. Dolby Laboratories has a 12-month low of $44.98 and a 12-month high of $61.45. The firm has a market cap of $6,188.54, a PE ratio of 29.16, a P/E/G ratio of 2.28 and a beta of 0.83.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, November 6th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, November 3rd. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.14. Dolby Laboratories’s dividend payout ratio (DPR) is 32.99%.
About Dolby Laboratories
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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