Dolby Laboratories (NYSE:DLB) – Equities research analysts at William Blair issued their Q3 2019 earnings per share estimates for shares of Dolby Laboratories in a research report issued on Wednesday. William Blair analyst R. Schackart anticipates that the electronics maker will post earnings per share of $0.81 for the quarter.
DLB has been the subject of a number of other reports. B. Riley reaffirmed a “buy” rating and set a $61.50 price target on shares of Dolby Laboratories in a research note on Thursday, September 14th. BidaskClub downgraded Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 price target (up from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Dougherty & Co reaffirmed a “buy” rating and set a $63.00 price target on shares of Dolby Laboratories in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.17.
ILLEGAL ACTIVITY WARNING: This piece of content was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/11/01/dolby-laboratories-dlb-to-post-q3-2019-earnings-of-0-81-per-share-william-blair-forecasts.html. Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.45 EPS for the quarter, beating the consensus estimate of $0.27 by $0.18. Dolby Laboratories had a return on equity of 10.73% and a net margin of 18.66%. The company had revenue of $242.05 million during the quarter, compared to analysts’ expectations of $244.80 million. During the same quarter in the previous year, the business earned $0.37 EPS. The firm’s revenue was up 3.9% on a year-over-year basis.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Dolby Laboratories by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,725,496 shares of the electronics maker’s stock valued at $231,360,000 after buying an additional 103,702 shares during the last quarter. BlackRock Inc. grew its holdings in Dolby Laboratories by 19.8% in the 2nd quarter. BlackRock Inc. now owns 2,913,371 shares of the electronics maker’s stock valued at $142,639,000 after buying an additional 481,649 shares during the last quarter. American Century Companies Inc. grew its holdings in Dolby Laboratories by 0.9% in the 3rd quarter. American Century Companies Inc. now owns 1,844,837 shares of the electronics maker’s stock valued at $106,115,000 after buying an additional 16,420 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Dolby Laboratories by 14.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,549,100 shares of the electronics maker’s stock valued at $75,844,000 after buying an additional 191,600 shares during the last quarter. Finally, Timucuan Asset Management Inc. FL grew its holdings in Dolby Laboratories by 61.3% in the 2nd quarter. Timucuan Asset Management Inc. FL now owns 1,172,271 shares of the electronics maker’s stock valued at $57,394,000 after buying an additional 445,411 shares during the last quarter. 51.83% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Steven E. Forshay sold 9,355 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $57.86, for a total transaction of $541,280.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter C. Gotcher sold 9,310 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $60.00, for a total value of $558,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,264,665 shares of company stock worth $64,078,080. 43.80% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th will be issued a dividend of $0.16 per share. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.10%. Dolby Laboratories’s dividend payout ratio is currently 28.87%.
Dolby Laboratories Company Profile
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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