BidaskClub Lowers Dolby Laboratories (DLB) to Strong Sell
BidaskClub cut shares of Dolby Laboratories (NYSE:DLB) from a sell rating to a strong sell rating in a research note published on Tuesday morning.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Dolby Laboratories from a hold rating to a sell rating in a report on Tuesday, June 27th. B. Riley raised shares of Dolby Laboratories to a buy rating and set a $61.50 price target for the company in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $54.38.
Shares of Dolby Laboratories (NYSE:DLB) opened at 49.11 on Tuesday. Dolby Laboratories has a 12-month low of $44.99 and a 12-month high of $55.02. The stock’s 50 day moving average price is $51.12 and its 200 day moving average price is $50.78. The company has a market cap of $5.04 billion, a P/E ratio of 25.12 and a beta of 0.79.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. The business had revenue of $305.67 million during the quarter, compared to analyst estimates of $296.88 million. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. On average, analysts forecast that Dolby Laboratories will post $1.99 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Thursday, August 3rd. Dolby Laboratories’s payout ratio is 28.57%.
In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $52.03, for a total transaction of $5,203,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin J. Yeaman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total transaction of $517,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,010,000 shares of company stock valued at $51,075,900. Company insiders own 43.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Algert Global LLC raised its position in shares of Dolby Laboratories by 16.3% in the first quarter. Algert Global LLC now owns 24,726 shares of the electronics maker’s stock valued at $1,296,000 after buying an additional 3,462 shares in the last quarter. First Trust Advisors LP raised its position in shares of Dolby Laboratories by 66.9% in the first quarter. First Trust Advisors LP now owns 232,414 shares of the electronics maker’s stock valued at $12,181,000 after buying an additional 93,191 shares in the last quarter. Wrapmanager Inc. raised its position in shares of Dolby Laboratories by 2.9% in the first quarter. Wrapmanager Inc. now owns 6,106 shares of the electronics maker’s stock valued at $320,000 after buying an additional 171 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Dolby Laboratories during the first quarter valued at $249,000. Finally, Spot Trading L.L.C. bought a new position in shares of Dolby Laboratories during the first quarter valued at $660,000. 50.38% of the stock is owned by institutional investors.
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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