Dolby Laboratories (NYSE:DLB) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.36 to $0.42 for the period, compared to the Thomson Reuters consensus EPS 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 analysts have recently issued reports on the company. Zacks Investment Research raised Dolby Laboratories from a hold rating to a buy rating and set a $59.00 price target for the company in a research note on Friday, April 28th. B. Riley upgraded Dolby Laboratories to a buy rating and set a $61.50 price target for the company in a research report on Saturday, July 22nd. Finally, BidaskClub downgraded Dolby Laboratories from a hold rating to a sell rating in a research note on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Dolby Laboratories has a consensus rating of Hold and a consensus price target of $54.38.
Dolby Laboratories (DLB) traded up 0.02% during midday trading on Friday, hitting $50.00. The stock had a trading volume of 516,426 shares. The firm has a market cap of $5.13 billion, a P/E ratio of 25.58 and a beta of 0.79. The stock has a 50-day moving average of $51.28 and a 200-day moving average of $50.73. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $55.02.
Dolby Laboratories (NYSE:DLB) last posted its earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The firm had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $296.88 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Analysts forecast that Dolby Laboratories will post $1.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 1.12%. Dolby Laboratories’s payout ratio is 28.57%.
In other news, insider Kevin J. Yeaman sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Dagmar Dolby sold 100,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $52.22, for a total value of $5,222,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 624,300 shares of company stock worth $32,095,762. Corporate insiders own 43.80% of the company’s stock.
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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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