Analysts Expect Dolby Laboratories, Inc. (DLB) to Post $0.43 Earnings Per Share

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Analysts expect that Dolby Laboratories, Inc. (NYSE:DLB) will post earnings of $0.43 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Dolby Laboratories’ earnings. The lowest EPS estimate is $0.42 and the highest is $0.44. Dolby Laboratories posted earnings per share of $0.45 during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.4%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Dolby Laboratories will report full-year earnings of $2.93 per share for the current financial year, with EPS estimates ranging from $2.92 to $2.94. For the next fiscal year, analysts forecast that the firm will report earnings of $3.10 per share, with EPS estimates ranging from $3.03 to $3.16. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Dolby Laboratories.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, July 25th. The electronics maker reported $0.92 EPS for the quarter, topping the consensus estimate of $0.69 by $0.23. Dolby Laboratories had a net margin of 8.18% and a return on equity of 12.95%. The business had revenue of $317.45 million for the quarter, compared to analyst estimates of $317.65 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Dolby Laboratories’s quarterly revenue was up 3.9% on a year-over-year basis.

Several equities research analysts recently commented on DLB shares. Zacks Investment Research raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Tuesday, June 19th. Tigress Financial reissued a “buy” rating on shares of Dolby Laboratories in a research note on Friday, September 7th. R. F. Lafferty started coverage on shares of Dolby Laboratories in a research note on Wednesday, September 5th. They set a “buy” rating and a $81.00 price objective on the stock. ValuEngine lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Finally, B. Riley boosted their price objective on shares of Dolby Laboratories from $61.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Dolby Laboratories has an average rating of “Buy” and a consensus target price of $74.20.

In other news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, June 28th. The shares were sold at an average price of $61.93, for a total value of $6,193,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kevin J. Yeaman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $64.48, for a total transaction of $967,200.00. The disclosure for this sale can be found here. Insiders have sold 527,000 shares of company stock worth $33,202,939 in the last three months. 43.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Eagle Ridge Investment Management raised its holdings in shares of Dolby Laboratories by 0.8% during the second quarter. Eagle Ridge Investment Management now owns 113,909 shares of the electronics maker’s stock valued at $7,027,000 after purchasing an additional 910 shares during the last quarter. US Bancorp DE raised its holdings in shares of Dolby Laboratories by 28.2% during the first quarter. US Bancorp DE now owns 4,938 shares of the electronics maker’s stock valued at $314,000 after purchasing an additional 1,086 shares during the last quarter. Denali Advisors LLC raised its holdings in shares of Dolby Laboratories by 2.7% during the second quarter. Denali Advisors LLC now owns 41,700 shares of the electronics maker’s stock valued at $2,572,000 after purchasing an additional 1,100 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Dolby Laboratories by 29.2% during the first quarter. The Manufacturers Life Insurance Company now owns 5,219 shares of the electronics maker’s stock valued at $332,000 after purchasing an additional 1,181 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Dolby Laboratories by 1.6% during the first quarter. California State Teachers Retirement System now owns 93,572 shares of the electronics maker’s stock valued at $5,947,000 after purchasing an additional 1,473 shares during the last quarter. Hedge funds and other institutional investors own 56.23% of the company’s stock.

NYSE:DLB opened at $69.30 on Tuesday. Dolby Laboratories has a one year low of $56.50 and a one year high of $74.29. The stock has a market cap of $7.10 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80.

About Dolby Laboratories

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, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.

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