Dolby Laboratories Inc. (DLB) Receives $50.00 Average Price Target from Analysts
Dolby Laboratories Inc. (NYSE:DLB) has been assigned an average recommendation of “Hold” from the eight analysts that are covering the company. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $50.00.
Several research firms have issued reports on DLB. B. Riley restated a “neutral” rating and issued a $50.00 price target on shares of Dolby Laboratories in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. began coverage on shares of Dolby Laboratories in a research report on Tuesday, October 4th. They issued a “neutral” rating and a $51.00 price target on the stock. Dougherty & Co lifted their price target on shares of Dolby Laboratories from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Barrington Research upgraded shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 27th. Finally, Zacks Investment Research lowered shares of Dolby Laboratories from a “hold” rating to a “strong sell” rating in a research report on Friday, October 28th.
Shares of Dolby Laboratories (NYSE:DLB) opened at 47.25 on Friday. Dolby Laboratories has a 52 week low of $30.38 and a 52 week high of $55.02. The stock has a market capitalization of $4.85 billion, a PE ratio of 26.10 and a beta of 0.64. The company’s 50 day moving average price is $50.46 and its 200-day moving average price is $49.01.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.17. Dolby Laboratories had a net margin of 18.12% and a return on equity of 10.01%. The business had revenue of $233 million for the quarter, compared to analyst estimates of $226.45 million. During the same quarter last year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts predict that Dolby Laboratories will post $1.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 16th. Investors of record on Monday, November 7th will be paid a $0.14 dividend. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 1.19%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 30.94%.
In other Dolby Laboratories news, insider Kevin J. Yeaman sold 22,102 shares of Dolby Laboratories stock in a transaction on Monday, October 10th. The shares were sold at an average price of $55.00, for a total transaction of $1,215,610.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Dagmar Dolby sold 50,000 shares of Dolby Laboratories stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $49.79, for a total transaction of $2,489,500.00. The disclosure for this sale can be found here. 45.16% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Jane Street Group LLC raised its stake in shares of Dolby Laboratories by 710.3% in the third quarter. Jane Street Group LLC now owns 24,737 shares of the company’s stock worth $1,343,000 after buying an additional 21,684 shares during the period. Nantahala Capital Management LLC raised its stake in shares of Dolby Laboratories by 3.9% in the third quarter. Nantahala Capital Management LLC now owns 847,907 shares of the company’s stock worth $46,033,000 after buying an additional 31,600 shares during the period. Gotham Asset Management LLC raised its stake in shares of Dolby Laboratories by 94.9% in the third quarter. Gotham Asset Management LLC now owns 60,883 shares of the company’s stock worth $3,305,000 after buying an additional 29,641 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Dolby Laboratories during the third quarter worth about $156,000. Finally, UBS Group AG raised its stake in shares of Dolby Laboratories by 49.4% in the third quarter. UBS Group AG now owns 99,770 shares of the company’s stock worth $5,417,000 after buying an additional 32,989 shares during the period. 49.91% of the stock is owned by institutional investors.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Company offers digital signal processing and compression technologies. Its technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences.
Receive News & Stock Ratings for Dolby Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories Inc. and related stocks with our FREE daily email newsletter.