Dolby Laboratories (NYSE:DLB) – Stock analysts at Dougherty & Co issued their FY2019 earnings per share estimates for Dolby Laboratories in a research report issued on Monday. Dougherty & Co analyst S. Frankel anticipates that the electronics maker will post earnings per share of $2.67 for the year. Dougherty & Co has a “Buy” rating and a $63.00 price target on the stock.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.18. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.62%. The company had revenue of $242.05 million during the quarter, compared to the consensus estimate of $244.80 million. During the same period in the prior year, the company earned $0.37 EPS. Dolby Laboratories’s revenue was up 3.9% on a year-over-year basis.
A number of other brokerages also recently weighed in on DLB. Zacks Investment Research downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. B. Riley set a $66.00 price objective on shares of Dolby Laboratories and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 price objective (up from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $60.17.
Shares of Dolby Laboratories (NYSE DLB) traded up $0.45 during midday trading on Thursday, reaching $63.52. 169,064 shares of the company’s stock were exchanged, compared to its average volume of 238,916. Dolby Laboratories has a 52 week low of $47.19 and a 52 week high of $63.69. The firm has a market cap of $6,510.00, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 2.35 and a beta of 0.85.
In other news, SVP Steven E. Forshay sold 9,355 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $57.86, for a total value of $541,280.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Gotcher sold 9,310 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $60.00, for a total transaction of $558,600.00. The disclosure for this sale can be found here. Insiders sold 544,409 shares of company stock valued at $33,369,495 over the last three months. 43.80% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Dolby Laboratories by 1.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,769 shares of the electronics maker’s stock worth $380,000 after buying an additional 94 shares during the last quarter. Legal & General Group Plc increased its holdings in Dolby Laboratories by 1.1% in the second quarter. Legal & General Group Plc now owns 18,586 shares of the electronics maker’s stock worth $910,000 after buying an additional 199 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Dolby Laboratories by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after buying an additional 209 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Dolby Laboratories by 0.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 141,530 shares of the electronics maker’s stock worth $6,929,000 after buying an additional 380 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Dolby Laboratories by 2.6% in the second quarter. D.A. Davidson & CO. now owns 26,566 shares of the electronics maker’s stock worth $1,300,000 after buying an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 52.53% of the company’s stock.
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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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