Dolby Laboratories (NYSE:DLB) declared a quarterly dividend on Tuesday, July 25th, RTT News reports. Shareholders of record on Monday, August 7th will be paid a dividend of 0.14 per share by the electronics maker on Tuesday, August 15th. This represents a $0.56 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, August 3rd.
Dolby Laboratories has a dividend payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dolby Laboratories to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 24.9%.
Shares of Dolby Laboratories (NYSE DLB) traded down 0.51% during trading on Friday, reaching $51.15. The company’s stock had a trading volume of 312,733 shares. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 26.16 and a beta of 0.79. Dolby Laboratories has a 1-year low of $44.99 and a 1-year high of $55.02. The company’s 50-day moving average price is $51.06 and its 200 day moving average price is $50.66.
Dolby Laboratories (NYSE:DLB) last released its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.39%. The company had revenue of $305.67 million for the quarter, compared to the consensus estimate of $296.88 million. During the same quarter in the previous year, the company earned $0.62 EPS. Dolby Laboratories’s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts anticipate that Dolby Laboratories will post $1.99 EPS for the current year.
DLB has been the topic of several research reports. B. Riley restated a “neutral” rating and set a $57.00 price objective (up previously from $52.00) on shares of Dolby Laboratories in a report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Friday, April 28th. Finally, BidaskClub downgraded shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $54.38.
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In other news, insider Kevin J. Yeaman sold 10,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $51.79, for a total value of $517,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Lewis Chew sold 14,300 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $50.34, for a total transaction of $719,862.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,300 shares of company stock valued at $11,766,262. 43.80% of the stock is owned by company insiders.
Dolby Laboratories Company Profile
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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