$297.51 Million in Sales Expected for Dolby Laboratories, Inc. (NYSE:DLB) This Quarter
Brokerages expect Dolby Laboratories, Inc. (NYSE:DLB) to announce sales of $297.51 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Dolby Laboratories’ earnings, with the highest sales estimate coming in at $300.53 million and the lowest estimate coming in at $295.71 million. Dolby Laboratories posted sales of $265.33 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.1%. The company is scheduled to report its next earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Dolby Laboratories will report full year sales of $1.24 billion for the current fiscal year. For the next financial year, analysts forecast that the business will post sales of $1.35 billion, with estimates ranging from $1.34 billion to $1.36 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, August 1st. The electronics maker reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.11). Dolby Laboratories had a return on equity of 9.00% and a net margin of 21.64%. The company had revenue of $302.16 million for the quarter, compared to analysts’ expectations of $305.29 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s revenue for the quarter was up 40.7% on a year-over-year basis.
Shares of DLB stock traded down $0.14 during trading hours on Thursday, hitting $63.02. 256,104 shares of the company were exchanged, compared to its average volume of 421,271. The firm has a fifty day simple moving average of $61.27 and a 200 day simple moving average of $63.41. Dolby Laboratories has a 52-week low of $56.09 and a 52-week high of $71.77. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 2.30 and a beta of 0.86.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.76 dividend on an annualized basis and a yield of 1.21%. Dolby Laboratories’s dividend payout ratio is 31.67%.
In other news, VP Ryan Nicholson sold 8,197 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $61.04, for a total transaction of $500,344.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Dagmar Dolby sold 15,617 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $65.04, for a total transaction of $1,015,729.68. The disclosure for this sale can be found here. Insiders sold a total of 1,098,873 shares of company stock valued at $71,250,412 over the last quarter. 40.23% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC grew its position in shares of Dolby Laboratories by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 669 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 223 shares in the last quarter. Advisory Alpha LLC purchased a new position in shares of Dolby Laboratories during the 1st quarter valued at $53,000. Point72 Asset Management L.P. purchased a new position in shares of Dolby Laboratories during the 2nd quarter valued at $71,000. TRUE Private Wealth Advisors purchased a new position in shares of Dolby Laboratories during the 2nd quarter valued at $84,000. Finally, Parallel Advisors LLC grew its position in shares of Dolby Laboratories by 20.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,300 shares of the electronics maker’s stock valued at $84,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 57.29% of the company’s stock.
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, 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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