Dolby Laboratories, Inc. (DLB) Expected to Announce Quarterly Sales of $294.83 Million

Analysts expect that Dolby Laboratories, Inc. (NYSE:DLB) will report $294.83 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Dolby Laboratories’ earnings. The lowest sales estimate is $294.11 million and the highest is $296.45 million. Dolby Laboratories posted sales of $287.80 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The firm is scheduled to issue its next earnings results on Wednesday, January 23rd.

On average, analysts expect that Dolby Laboratories will report full-year sales of $1.26 billion for the current fiscal year. For the next fiscal year, analysts expect that the firm will post sales of $1.36 billion, with estimates ranging from $1.34 billion to $1.38 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Dolby Laboratories.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, October 24th. The electronics maker reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.17. The company had revenue of $265.33 million for the quarter, compared to analyst estimates of $272.42 million. Dolby Laboratories had a return on equity of 12.72% and a net margin of 10.43%. During the same period last year, the company earned $0.21 earnings per share.

A number of research analysts recently issued reports on DLB shares. R. F. Lafferty lowered their target price on Dolby Laboratories from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Finally, B. Riley set a $67.00 target price on Dolby Laboratories and gave the stock a “hold” rating in a report on Tuesday, December 4th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $73.60.

NYSE:DLB traded up $0.19 during mid-day trading on Friday, reaching $63.96. 196,093 shares of the stock were exchanged, compared to its average volume of 379,912. The firm has a market cap of $6.53 billion, a P/E ratio of 26.65, a PEG ratio of 2.15 and a beta of 0.83. Dolby Laboratories has a 1-year low of $58.17 and a 1-year high of $74.29.

In related news, Director Peter C. Gotcher sold 3,334 shares of Dolby Laboratories stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $70.00, for a total transaction of $233,380.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Andrew Sherman sold 4,726 shares of Dolby Laboratories stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $64.55, for a total value of $305,063.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,693 shares of company stock worth $4,494,761. 40.23% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Dolby Laboratories by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,508,279 shares of the electronics maker’s stock worth $385,415,000 after purchasing an additional 209,633 shares in the last quarter. Vanguard Group Inc increased its stake in Dolby Laboratories by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 5,508,279 shares of the electronics maker’s stock worth $385,415,000 after purchasing an additional 209,633 shares in the last quarter. BlackRock Inc. increased its stake in Dolby Laboratories by 12.4% in the 3rd quarter. BlackRock Inc. now owns 2,924,015 shares of the electronics maker’s stock worth $204,594,000 after purchasing an additional 323,489 shares in the last quarter. FMR LLC increased its stake in Dolby Laboratories by 5.1% in the 3rd quarter. FMR LLC now owns 2,607,991 shares of the electronics maker’s stock worth $182,481,000 after purchasing an additional 127,537 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Dolby Laboratories by 10.0% in the 3rd quarter. Renaissance Technologies LLC now owns 2,458,000 shares of the electronics maker’s stock worth $171,986,000 after purchasing an additional 223,300 shares in the last quarter. 56.18% of the stock is currently owned by hedge funds and other institutional investors.

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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