Dolby Laboratories, Inc. (DLB) Given Consensus Recommendation of “Buy” by Brokerages
Dolby Laboratories, Inc. (NYSE:DLB) has received a consensus recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $74.50.
DLB has been the topic of several research reports. Zacks Investment Research upgraded Dolby Laboratories from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Tuesday, June 19th. Tigress Financial restated a “buy” rating on shares of Dolby Laboratories in a research note on Friday, September 7th. R. F. Lafferty initiated coverage on Dolby Laboratories in a research note on Wednesday, September 5th. They set a “buy” rating and a $81.00 price target on the stock. ValuEngine lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Finally, B. Riley boosted their price target on Dolby Laboratories from $61.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, July 26th.
In other news, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $65.31, for a total value of $6,531,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kevin J. Yeaman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $64.48, for a total value of $967,200.00. The disclosure for this sale can be found here. Insiders have sold 777,000 shares of company stock worth $49,449,939 over the last 90 days. Corporate insiders own 43.80% of the company’s stock.
Shares of NYSE DLB traded up $0.24 during trading hours on Friday, hitting $71.21. 193,300 shares of the company’s stock were exchanged, compared to its average volume of 390,234. Dolby Laboratories has a 1-year low of $56.50 and a 1-year high of $74.29. The stock has a market capitalization of $7.38 billion, a PE ratio of 32.37, a P/E/G ratio of 2.50 and a beta of 0.80.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, July 25th. The electronics maker reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.23. Dolby Laboratories had a return on equity of 12.95% and a net margin of 8.18%. The firm had revenue of $317.45 million for the quarter, compared to analyst estimates of $317.65 million. During the same period in the previous year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. sell-side analysts predict that Dolby Laboratories will post 2.37 earnings per share for the current fiscal year.
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, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.
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