Zacks: Analysts Expect Dolby Laboratories, Inc. (NYSE:DLB) Will Post Quarterly Sales of $297.15 Million


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Wall Street brokerages expect Dolby Laboratories, Inc. (NYSE:DLB) to report sales of $297.15 million for the current quarter, according to Zacks. Three analysts have provided estimates for Dolby Laboratories’ earnings, with the highest sales estimate coming in at $300.11 million and the lowest estimate coming in at $294.96 million. Dolby Laboratories reported sales of $351.82 million in the same quarter last year, which indicates a negative year over year growth rate of 15.5%. The company is expected to report its next earnings results after the market closes on Tuesday, May 4th.

According to Zacks, analysts expect that Dolby Laboratories will report full-year sales of $1.26 billion for the current fiscal year, with estimates ranging from $1.25 billion to $1.28 billion. For the next year, analysts expect that the firm will post sales of $1.34 billion, with estimates ranging from $1.32 billion to $1.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Dolby Laboratories.

Several research firms have recently issued reports on DLB. Barrington Research lowered Dolby Laboratories from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 26th. Tigress Financial reaffirmed a “buy” rating on shares of Dolby Laboratories in a report on Thursday, February 25th. B. Riley upped their target price on Dolby Laboratories from $79.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, January 29th. Finally, Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating and set a $98.00 target price for the company in a report on Tuesday, February 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $83.75.

In related news, CMO Todd Pendleton sold 14,469 shares of the stock in a transaction on Friday, February 19th. The stock was sold at an average price of $94.08, for a total value of $1,361,243.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin J. Yeaman sold 29,457 shares of the stock in a transaction on Tuesday, April 13th. The stock was sold at an average price of $101.44, for a total value of $2,988,118.08. The disclosure for this sale can be found here. Insiders sold 108,640 shares of company stock valued at $10,287,333 over the last ninety days. Corporate insiders own 37.30% of the company’s stock.

Several hedge funds have recently modified their holdings of DLB. NEXT Financial Group Inc raised its position in shares of Dolby Laboratories by 69.2% in the fourth quarter. NEXT Financial Group Inc now owns 269 shares of the electronics maker’s stock worth $26,000 after buying an additional 110 shares in the last quarter. Childress Capital Advisors LLC purchased a new stake in Dolby Laboratories during the fourth quarter valued at about $48,000. Harvest Fund Management Co. Ltd raised its position in Dolby Laboratories by 47.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 534 shares of the electronics maker’s stock valued at $51,000 after purchasing an additional 172 shares in the last quarter. TD Ameritrade Investment Management LLC purchased a new stake in Dolby Laboratories during the fourth quarter valued at about $54,000. Finally, Exchange Traded Concepts LLC raised its position in Dolby Laboratories by 497.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 693 shares of the electronics maker’s stock valued at $67,000 after purchasing an additional 577 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.

Shares of DLB stock traded down $0.04 during trading on Friday, hitting $103.37. The company’s stock had a trading volume of 12,883 shares, compared to its average volume of 500,289. The company has a market cap of $10.50 billion, a PE ratio of 45.96, a P/E/G ratio of 3.27 and a beta of 0.89. The business has a fifty day moving average of $100.39 and a 200-day moving average of $92.69. Dolby Laboratories has a 52 week low of $52.13 and a 52 week high of $104.74.

Dolby Laboratories Company Profile

Dolby Laboratoties, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast, and entertainment industries. Its products include Cinema Imaging, Cinema Audio, Dolby Conference Phone, Dolby Voice Room, and Other Products. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.

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