Wall Street analysts expect that Dolby Laboratories, Inc. (NYSE:DLB) will report $0.48 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Dolby Laboratories’ earnings. The highest EPS estimate is $0.51 and the lowest is $0.44. Dolby Laboratories reported earnings per share of $0.86 in the same quarter last year, which suggests a negative year-over-year growth rate of 44.2%. The company is scheduled to announce its next earnings results after the market closes on Thursday, July 29th.
On average, analysts expect that Dolby Laboratories will report full year earnings of $3.52 per share for the current fiscal year, with EPS estimates ranging from $3.40 to $3.61. For the next year, analysts forecast that the firm will report earnings of $3.87 per share, with EPS estimates ranging from $3.80 to $4.00. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Tuesday, May 4th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.44. Dolby Laboratories had a net margin of 24.89% and a return on equity of 12.26%. The firm had revenue of $319.56 million during the quarter, compared to the consensus estimate of $294.29 million. During the same period last year, the firm posted $1.04 EPS. The firm’s quarterly revenue was down 9.2% on a year-over-year basis.
DLB stock traded down $1.41 during trading on Thursday, hitting $96.87. 11,994 shares of the stock traded hands, compared to its average volume of 295,122. Dolby Laboratories has a one year low of $63.45 and a one year high of $104.74. The stock has a market cap of $9.82 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.78 and a beta of 0.97. The stock has a 50 day moving average of $98.10.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 25th. Shareholders of record on Monday, May 17th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Friday, May 14th. Dolby Laboratories’s dividend payout ratio is presently 38.26%.
In related news, CFO Lewis Chew sold 30,918 shares of the business’s stock in a transaction that occurred on Thursday, May 20th. The shares were sold at an average price of $96.67, for a total transaction of $2,988,843.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin J. Yeaman sold 29,457 shares of the business’s stock in a transaction that occurred on Tuesday, July 13th. The stock was sold at an average price of $99.37, for a total transaction of $2,927,142.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,832 shares of company stock valued at $8,849,313. Insiders own 37.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of DLB. Goldman Sachs Group Inc. grew its holdings in Dolby Laboratories by 379.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,086,200 shares of the electronics maker’s stock valued at $107,230,000 after purchasing an additional 859,666 shares during the period. Norges Bank acquired a new position in shares of Dolby Laboratories in the fourth quarter valued at approximately $67,801,000. Jackson Square Partners LLC boosted its holdings in shares of Dolby Laboratories by 28.3% in the first quarter. Jackson Square Partners LLC now owns 2,777,559 shares of the electronics maker’s stock valued at $274,200,000 after buying an additional 612,019 shares during the period. Morgan Stanley boosted its holdings in shares of Dolby Laboratories by 830.2% in the first quarter. Morgan Stanley now owns 543,060 shares of the electronics maker’s stock valued at $53,610,000 after buying an additional 484,678 shares during the period. Finally, Polar Capital Holdings Plc boosted its holdings in shares of Dolby Laboratories by 18.1% in the first quarter. Polar Capital Holdings Plc now owns 1,654,505 shares of the electronics maker’s stock valued at $163,333,000 after buying an additional 253,895 shares during the period. Hedge funds and other institutional investors own 59.49% of the company’s stock.
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 a range of media applications.; 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 cinema and a range of media devices.
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