$299.35 Million in Sales Expected for Dolby Laboratories, Inc. (DLB) This Quarter
Analysts expect Dolby Laboratories, Inc. (NYSE:DLB) to announce $299.35 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Dolby Laboratories’ earnings. The lowest sales estimate is $297.52 million and the highest is $302.01 million. Dolby Laboratories posted sales of $267.47 million in the same quarter last year, which suggests a positive year over year growth rate of 11.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Dolby Laboratories will report full year sales of $299.35 million for the current year, with estimates ranging from $1.16 billion to $1.18 billion. For the next year, analysts expect that the firm will report sales of $1.25 billion per share, with estimates ranging from $1.23 billion to $1.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.35. The business had revenue of $287.80 million for the quarter, compared to the consensus estimate of $265.75 million. Dolby Laboratories had a net margin of 6.06% and a return on equity of 12.02%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share.
Shares of Dolby Laboratories (NYSE:DLB) opened at $59.98 on Friday. The company has a market cap of $6,494.27, a PE ratio of 95.21, a price-to-earnings-growth ratio of 5.34 and a beta of 0.78. Dolby Laboratories has a fifty-two week low of $47.41 and a fifty-two week high of $74.29.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, February 2nd. Dolby Laboratories’s payout ratio is 101.59%.
In other news, Director Peter C. Gotcher sold 5,233 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $62.12, for a total value of $325,073.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Bob Borchers sold 50,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $61.00, for a total transaction of $3,050,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 530,435 shares of company stock worth $33,123,427. Insiders own 43.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Intl Fcstone Inc. bought a new position in shares of Dolby Laboratories in the second quarter worth approximately $345,000. Schroder Investment Management Group bought a new position in shares of Dolby Laboratories in the third quarter worth approximately $35,761,000. Vanguard Group Inc. increased its position in shares of Dolby Laboratories by 2.2% in the second quarter. Vanguard Group Inc. now owns 4,725,496 shares of the electronics maker’s stock worth $231,360,000 after purchasing an additional 103,702 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dolby Laboratories by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 536,657 shares of the electronics maker’s stock worth $26,276,000 after purchasing an additional 2,648 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in shares of Dolby Laboratories in the third quarter worth approximately $254,000. Institutional investors own 53.01% of the company’s stock.
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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