Dolby Laboratories Inc. (NYSE:DLB) – Equities researchers at Dougherty & Co decreased their Q1 2017 earnings per share (EPS) estimates for Dolby Laboratories in a report released on Wednesday. Dougherty & Co analyst S. Frankel now anticipates that the brokerage will earn $0.40 per share for the quarter, down from their previous estimate of $0.44. Dougherty & Co currently has a “Buy” rating and a $57.00 target price on the stock. Dougherty & Co also issued estimates for Dolby Laboratories’ Q2 2017 earnings at $0.66 EPS, Q3 2017 earnings at $0.66 EPS, Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $2.00 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.76 EPS, Q4 2018 earnings at $0.43 EPS and FY2018 earnings at $2.40 EPS.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.17. The company earned $233 million during the quarter, compared to the consensus estimate of $226.45 million. Dolby Laboratories had a net margin of 18.12% and a return on equity of 10.01%. Dolby Laboratories’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS.
Several other research analysts also recently issued reports on DLB. B. Riley reiterated a “neutral” rating and issued a $46.00 target price on shares of Dolby Laboratories in a research note on Monday, July 25th. JPMorgan Chase & Co. initiated coverage on shares of Dolby Laboratories in a research note on Tuesday, October 4th. They issued a “neutral” rating and a $51.00 target price on the stock. Barrington Research upgraded shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating in a research note on Thursday. Finally, Zacks Investment Research cut shares of Dolby Laboratories from a “hold” rating to a “strong sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Dolby Laboratories currently has an average rating of “Hold” and an average target price of $50.60.
Dolby Laboratories (NYSE:DLB) opened at 47.57 on Friday. The company has a 50-day moving average of $51.87 and a 200 day moving average of $48.61. Dolby Laboratories has a 12-month low of $30.38 and a 12-month high of $55.02. The company has a market capitalization of $4.88 billion, a P/E ratio of 26.28 and a beta of 0.57.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 16th. Stockholders of record on Monday, November 7th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.18%. This is a boost from Dolby Laboratories’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, November 3rd. Dolby Laboratories’s payout ratio is presently 26.52%.
In other Dolby Laboratories news, insider Kevin J. Yeaman sold 3,287 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.52, for a total transaction of $162,772.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bob Borchers sold 8,649 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $49.98, for a total transaction of $432,277.02. The disclosure for this sale can be found here. Insiders own 45.16% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Walleye Trading LLC boosted its stake in shares of Dolby Laboratories by 155.8% in the second quarter. Walleye Trading LLC now owns 2,122 shares of the company’s stock worth $102,000 after buying an additional 5,922 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Dolby Laboratories by 13.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the company’s stock worth $139,000 after buying an additional 353 shares in the last quarter. US Bancorp DE boosted its stake in shares of Dolby Laboratories by 17.2% in the second quarter. US Bancorp DE now owns 3,138 shares of the company’s stock worth $150,000 after buying an additional 460 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Dolby Laboratories during the second quarter worth approximately $165,000. Finally, Advisor Group Inc. acquired a new stake in shares of Dolby Laboratories during the second quarter worth approximately $166,000. 49.39% of the stock is owned by institutional investors and hedge funds.
Dolby Laboratories Company Profile