Dolby Laboratories (NYSE:DLB) Updates Q4 Earnings Guidance

Dolby Laboratories (NYSE:DLB) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.36 to $0.42 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.46. The company issued revenue guidance of $230 million to $250 million, compared to the consensus revenue estimate of $251.67 million.

Several research firms have issued reports on DLB. B. Riley reaffirmed a neutral rating and set a $57.00 price objective (up from $52.00) on shares of Dolby Laboratories in a report on Tuesday, April 25th. Zacks Investment Research raised shares of Dolby Laboratories from a sell rating to a hold rating in a research note on Tuesday, July 4th. Finally, BidaskClub raised shares of Dolby Laboratories from a sell rating to a hold rating in a research note on Saturday, July 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $54.90.

Dolby Laboratories (NYSE DLB) traded down 0.96% during trading on Tuesday, hitting $52.88. 489,306 shares of the stock traded hands. The company’s 50 day moving average price is $50.66 and its 200-day moving average price is $50.45. The stock has a market cap of $5.43 billion, a P/E ratio of 28.72 and a beta of 0.77. Dolby Laboratories has a 52-week low of $44.99 and a 52-week high of $55.02.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Tuesday, July 25th. The electronics maker reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.21. The company had revenue of $305.67 million for the quarter, compared to analyst estimates of $296.88 million. Dolby Laboratories had a net margin of 18.34% and a return on equity of 9.91%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. Equities research analysts forecast that Dolby Laboratories will post $1.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.06%. Dolby Laboratories’s dividend payout ratio (DPR) is 30.27%.

In other Dolby Laboratories news, CFO Lewis Chew sold 14,300 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $50.34, for a total value of $719,862.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nicholas Donatiello, Jr. sold 2,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $51.75, for a total transaction of $103,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,300 shares of company stock worth $1,336,662. 43.80% of the stock is owned by insiders.

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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.