Wall Street brokerages expect Dolby Laboratories, Inc. (NYSE:DLB) to post sales of $305.13 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Dolby Laboratories’ earnings. The lowest sales estimate is $302.27 million and the highest is $309.55 million. Dolby Laboratories posted sales of $317.45 million in the same quarter last year, which would indicate a negative year over year growth rate of 3.9%. The firm is expected to announce its next quarterly earnings results on Wednesday, July 24th.
On average, analysts expect that Dolby Laboratories will report full year sales of $1.26 billion for the current financial year, with estimates ranging from $1.26 billion to $1.27 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.37 billion, with estimates ranging from $1.36 billion to $1.37 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.18. Dolby Laboratories had a return on equity of 11.12% and a net margin of 24.93%. The business had revenue of $338.26 million for the quarter, compared to analyst estimates of $337.45 million. During the same quarter in the prior year, the company posted $0.73 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis.
DLB has been the topic of several recent analyst reports. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research lowered Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, B. Riley set a $18.00 price target on TiVo and gave the company a “buy” rating in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $76.50.
In related news, insider Kevin J. Yeaman sold 67,708 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $64.68, for a total value of $4,379,353.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $65.72, for a total value of $6,572,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 867,572 shares of company stock worth $56,504,960. Corporate insiders own 40.23% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC raised its holdings in shares of Dolby Laboratories by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 669 shares of the electronics maker’s stock valued at $42,000 after buying an additional 223 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in Dolby Laboratories during the 4th quarter worth about $43,000. Advisory Alpha LLC purchased a new stake in Dolby Laboratories during the 1st quarter worth about $53,000. Northwestern Mutual Wealth Management Co. increased its holdings in Dolby Laboratories by 45.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,490 shares of the electronics maker’s stock worth $94,000 after purchasing an additional 467 shares during the period. Finally, ETF Managers Group LLC increased its holdings in Dolby Laboratories by 8.6% during the 1st quarter. ETF Managers Group LLC now owns 2,264 shares of the electronics maker’s stock worth $143,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 55.98% of the company’s stock.
Shares of Dolby Laboratories stock traded up $1.00 during trading hours on Friday, hitting $64.96. The company’s stock had a trading volume of 240,870 shares, compared to its average volume of 294,514. Dolby Laboratories has a twelve month low of $58.17 and a twelve month high of $72.04. The company’s fifty day simple moving average is $63.53. The company has a market cap of $6.50 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.
Recommended Story: How does a 12b-1 fee affect fund performance?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.