Dolby Laboratories, Inc. (NYSE:DLB) Expected to Post Quarterly Sales of $332.66 Million

Equities research analysts predict that Dolby Laboratories, Inc. (NYSE:DLB – Get Rating) will announce sales of $332.66 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Dolby Laboratories’ earnings, with estimates ranging from $329.97 million to $337.57 million. Dolby Laboratories reported sales of $319.56 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.1%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Dolby Laboratories will report full-year sales of $1.37 billion for the current fiscal year. For the next financial year, analysts expect that the company will post sales of $1.48 billion, with estimates ranging from $1.47 billion to $1.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Dolby Laboratories.

Dolby Laboratories (NYSE:DLB – Get Rating) last released its quarterly earnings data on Thursday, February 3rd. The electronics maker reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.05). Dolby Laboratories had a net margin of 20.52% and a return on equity of 9.86%. The company had revenue of $351.63 million during the quarter, compared to the consensus estimate of $364.12 million.

Several research firms have recently weighed in on DLB. TheStreet lowered Dolby Laboratories from a “b” rating to a “c+” rating in a research note on Monday, March 7th. StockNews.com lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, April 15th. Finally, Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating and set a $76.00 price objective on the stock in a research note on Monday, March 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $95.00.

DLB stock opened at $77.95 on Wednesday. Dolby Laboratories has a 1-year low of $69.18 and a 1-year high of $104.74. The firm has a market cap of $7.94 billion, a P/E ratio of 31.95, a P/E/G ratio of 2.09 and a beta of 1.06. The business’s 50 day moving average is $75.43 and its 200-day moving average is $84.21.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 23rd. Investors of record on Wednesday, February 16th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, February 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 40.98%.

In other Dolby Laboratories news, Director Avadis Tevanian sold 1,331 shares of the company’s stock in a transaction on Monday, February 7th. The stock was sold at an average price of $75.31, for a total transaction of $100,237.61. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Andrew Sherman sold 1,798 shares of the company’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $77.23, for a total value of $138,859.54. The disclosure for this sale can be found here. 37.06% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd lifted its stake in shares of Dolby Laboratories by 175.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 25,200 shares of the electronics maker’s stock valued at $2,218,000 after purchasing an additional 16,040 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Dolby Laboratories by 72.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,631 shares of the electronics maker’s stock valued at $935,000 after purchasing an additional 4,456 shares during the period. Inspire Investing LLC acquired a new position in shares of Dolby Laboratories in the 3rd quarter valued at $967,000. Ararat Capital Management LP lifted its stake in shares of Dolby Laboratories by 83.2% in the 3rd quarter. Ararat Capital Management LP now owns 218,788 shares of the electronics maker’s stock valued at $19,253,000 after purchasing an additional 99,390 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Dolby Laboratories in the 3rd quarter valued at $668,000. 56.84% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Company Profile (Get Rating)

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV, transmissions and devices, mobile devices, OTT video and music services, and home entertainment 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 various media devices; Dolby AC-4, an digital 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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