Dolby Laboratories (DLB) Posts Earnings Results, Beats Expectations By $0.18 EPS

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Dolby Laboratories (NYSE:DLB) released its earnings results on Wednesday. The electronics maker reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.18, Morningstar.com reports. The company had revenue of $338.26 million for the quarter, compared to analysts’ expectations of $337.45 million. Dolby Laboratories had a return on equity of 11.30% and a net margin of 25.47%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. Dolby Laboratories updated its Q3 guidance to $0.62-0.68 EPS.

Shares of NYSE DLB traded up $0.33 during midday trading on Friday, hitting $65.53. 8,525 shares of the company’s stock were exchanged, compared to its average volume of 454,879. Dolby Laboratories has a 12-month low of $58.17 and a 12-month high of $72.04. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.23 and a beta of 0.86.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, May 13th. Dolby Laboratories’s payout ratio is 31.67%.

In other Dolby Laboratories news, Director Peter C. Gotcher sold 3,920 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $65.00, for a total value of $254,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Dagmar Dolby sold 52,254 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $65.39, for a total value of $3,416,889.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 979,393 shares of company stock valued at $63,605,777. 40.23% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of DLB. Vanguard Group Inc lifted its position in Dolby Laboratories by 4.0% in the third quarter. Vanguard Group Inc now owns 5,508,279 shares of the electronics maker’s stock valued at $385,415,000 after purchasing an additional 209,633 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Dolby Laboratories by 4.0% during the third quarter. Vanguard Group Inc. now owns 5,508,279 shares of the electronics maker’s stock valued at $385,415,000 after acquiring an additional 209,633 shares in the last quarter. Timucuan Asset Management Inc. FL raised its holdings in shares of Dolby Laboratories by 0.7% during the fourth quarter. Timucuan Asset Management Inc. FL now owns 1,254,775 shares of the electronics maker’s stock valued at $77,595,000 after acquiring an additional 8,753 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Dolby Laboratories by 17.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,154,500 shares of the electronics maker’s stock valued at $71,394,000 after acquiring an additional 168,214 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Dolby Laboratories by 15.3% during the fourth quarter. Mackenzie Financial Corp now owns 817,903 shares of the electronics maker’s stock valued at $50,579,000 after acquiring an additional 108,401 shares in the last quarter. 56.07% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on DLB shares. Zacks Investment Research upgraded Dolby Laboratories from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, January 16th. Barrington Research restated a “buy” rating and issued a $85.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 31st. Finally, ValuEngine cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $76.50.

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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 TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; 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 home theaters, cinemas, device speakers, mobile devices, and headphones.

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Earnings History for Dolby Laboratories (NYSE:DLB)

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