Dolby Laboratories, Inc. (NYSE:DLB) – William Blair lifted their Q2 2018 earnings estimates for Dolby Laboratories in a research note issued on Monday. William Blair analyst R. Schackart now expects that the electronics maker will earn $0.65 per share for the quarter, up from their previous forecast of $0.63. William Blair also issued estimates for Dolby Laboratories’ Q3 2018 earnings at $0.76 EPS, FY2019 earnings at $2.77 EPS, FY2021 earnings at $4.09 EPS and FY2022 earnings at $4.66 EPS.
A number of other brokerages have also commented on DLB. B. Riley lowered Dolby Laboratories to a “hold” rating and set a $63.00 price target for the company. in a research note on Thursday, January 25th. ValuEngine raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $62.00.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.35. Dolby Laboratories had a return on equity of 12.02% and a net margin of 6.06%. The firm had revenue of $287.80 million during the quarter, compared to analyst estimates of $265.75 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of DLB. Elkfork Partners LLC bought a new position in Dolby Laboratories in the fourth quarter worth $102,000. Captrust Financial Advisors bought a new position in shares of Dolby Laboratories during the fourth quarter valued at $122,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Dolby Laboratories during the fourth quarter valued at $145,000. The Manufacturers Life Insurance Company increased its holdings in shares of Dolby Laboratories by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock valued at $174,000 after acquiring an additional 725 shares in the last quarter. Finally, Meadow Creek Investment Management LLC bought a new stake in Dolby Laboratories in the 4th quarter worth about $179,000. Institutional investors and hedge funds own 53.28% of the company’s stock.
In other Dolby Laboratories news, Director Peter C. Gotcher sold 18,544 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $64.53, for a total value of $1,196,644.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Giles Baker sold 35,866 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $64.08, for a total value of $2,298,293.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 532,134 shares of company stock valued at $33,369,380. 43.74% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. Dolby Laboratories’s dividend payout ratio (DPR) is 101.59%.
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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.
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