Dolby Laboratories, Inc. (NYSE:DLB) Expected to Announce Quarterly Sales of $286.75 Million

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Wall Street brokerages predict that Dolby Laboratories, Inc. (NYSE:DLB) will announce sales of $286.75 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Dolby Laboratories’ earnings. The lowest sales estimate is $284.78 million and the highest is $290.30 million. Dolby Laboratories reported sales of $302.38 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.2%. The company is scheduled to announce its next quarterly earnings report on Wednesday, January 29th.

According to Zacks, analysts expect that Dolby Laboratories will report full-year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.32 billion to $1.35 billion. For the next financial year, analysts expect that the company will post sales of $1.42 billion, with estimates ranging from $1.39 billion to $1.46 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Dolby Laboratories.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, November 14th. The electronics maker reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.05). The company had revenue of $298.80 million for the quarter, compared to analysts’ expectations of $297.55 million. Dolby Laboratories had a return on equity of 9.34% and a net margin of 20.56%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS.

DLB has been the subject of a number of research analyst reports. B. Riley raised shares of Dolby Laboratories from a “neutral” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Monday, November 11th. Zacks Investment Research cut shares of Dolby Laboratories from a “hold” rating to a “sell” rating and set a $73.00 price target for the company. in a research report on Monday. Dougherty & Co reissued a “buy” rating on shares of Dolby Laboratories in a research report on Monday, November 11th. William Blair reissued a “buy” rating on shares of Dolby Laboratories in a research report on Friday, August 2nd. Finally, ValuEngine raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Dolby Laboratories currently has an average rating of “Buy” and an average target price of $77.00.

NYSE:DLB opened at $69.79 on Wednesday. The stock has a market capitalization of $7.00 billion, a P/E ratio of 28.60, a PEG ratio of 1.85 and a beta of 0.84. The company has a 50 day moving average price of $64.73 and a 200 day moving average price of $63.47. Dolby Laboratories has a fifty-two week low of $56.09 and a fifty-two week high of $71.77.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Tuesday, November 26th will be given a $0.22 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.88 annualized dividend and a yield of 1.26%. Dolby Laboratories’s dividend payout ratio is presently 31.15%.

In other Dolby Laboratories news, VP Ryan Nicholson sold 8,197 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $61.04, for a total value of $500,344.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 40.23% of the company’s stock.

A number of hedge funds have recently modified their holdings of DLB. Quest Capital Management Inc. ADV purchased a new stake in shares of Dolby Laboratories during the 3rd quarter worth $30,000. Venturi Wealth Management LLC purchased a new stake in shares of Dolby Laboratories during the 3rd quarter worth $31,000. Steward Partners Investment Advisory LLC lifted its position in shares of Dolby Laboratories by 176.2% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 674 shares of the electronics maker’s stock worth $43,000 after purchasing an additional 430 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Dolby Laboratories during the 3rd quarter worth $45,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Dolby Laboratories during the 2nd quarter worth $71,000. 58.02% of the stock is owned by institutional investors.

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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