$0.49 EPS Expected for Dolby Laboratories, Inc. (DLB) This Quarter
Analysts expect that Dolby Laboratories, Inc. (NYSE:DLB) will announce earnings of $0.49 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Dolby Laboratories’ earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.51. Dolby Laboratories reported earnings of $0.92 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 46.7%. The company is expected to issue its next quarterly earnings report on Wednesday, July 24th.
According to Zacks, analysts expect that Dolby Laboratories will report full year earnings of $2.38 per share for the current fiscal year, with EPS estimates ranging from $2.33 to $2.42. For the next fiscal year, analysts forecast that the business will report earnings of $2.93 per share, with EPS estimates ranging from $2.82 to $3.10. Zacks’ EPS averages are an average based on a survey of research firms that follow Dolby Laboratories.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. Dolby Laboratories had a net margin of 24.93% and a return on equity of 11.12%. The firm had revenue of $338.26 million for the quarter, compared to analysts’ expectations of $337.45 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year.
In related news, major shareholder Dagmar Dolby sold 69,885 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $65.32, for a total transaction of $4,564,888.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Giles Baker sold 8,181 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $65.30, for a total transaction of $534,219.30. Following the transaction, the senior vice president now owns 12,499 shares in the company, valued at approximately $816,184.70. The disclosure for this sale can be found here. Insiders have sold 1,067,108 shares of company stock worth $69,554,788 in the last quarter. 40.23% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in DLB. Penserra Capital Management LLC bought a new stake in Dolby Laboratories during the fourth quarter worth about $27,000. Essex Savings Bank bought a new stake in Dolby Laboratories during the fourth quarter worth about $28,000. Cutler Group LP bought a new stake in Dolby Laboratories during the fourth quarter worth about $30,000. Enlightenment Research LLC bought a new stake in Dolby Laboratories during the fourth quarter worth about $31,000. Finally, Metropolitan Life Insurance Co NY boosted its stake in Dolby Laboratories by 28.3% during the first quarter. Metropolitan Life Insurance Co NY now owns 1,966 shares of the electronics maker’s stock worth $38,000 after acquiring an additional 434 shares in the last quarter. Institutional investors own 55.59% of the company’s stock.
DLB stock opened at $62.22 on Friday. Dolby Laboratories has a 12-month low of $58.17 and a 12-month high of $72.04. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.01 and a beta of 0.86.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, May 13th. Dolby Laboratories’s dividend payout ratio is currently 31.67%.
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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