Zacks: Brokerages Anticipate Dolby Laboratories, Inc. (NYSE:DLB) Will Post Quarterly Sales of $297.51 Million

Analysts expect that Dolby Laboratories, Inc. (NYSE:DLB) will announce sales of $297.51 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Dolby Laboratories’ earnings. The highest sales estimate is $300.53 million and the lowest is $295.71 million. Dolby Laboratories posted sales of $265.33 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.1%. The business is expected to announce its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that Dolby Laboratories will report full year sales of $1.24 billion for the current financial year. For the next financial year, analysts anticipate that the firm will post sales of $1.35 billion, with estimates ranging from $1.34 billion to $1.36 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Dolby Laboratories.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, August 1st. The electronics maker reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.11). Dolby Laboratories had a return on equity of 9.00% and a net margin of 21.64%. The firm had revenue of $302.16 million during the quarter, compared to analyst estimates of $305.29 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Dolby Laboratories’s quarterly revenue was up 40.7% compared to the same quarter last year.

A number of analysts have recently weighed in on DLB shares. Tigress Financial restated a “buy” rating on shares of Dolby Laboratories in a research note on Wednesday, September 18th. ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. B. Riley restated a “neutral” rating and issued a $73.00 price objective (up from $67.00) on shares of Dolby Laboratories in a research note on Friday, August 2nd. Finally, William Blair restated a “buy” rating on shares of Dolby Laboratories in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Dolby Laboratories presently has an average rating of “Buy” and an average target price of $78.00.

In related news, Director Ed H. Bowman, Jr. sold 2,492 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $84.52, for a total transaction of $210,623.84. Following the completion of the transaction, the director now directly owns 16,386 shares in the company, valued at approximately $1,384,944.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kevin J. Yeaman sold 67,708 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $56.51, for a total transaction of $3,826,179.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 784,316 shares of company stock valued at $50,773,762. Corporate insiders own 40.23% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC raised its stake in Dolby Laboratories by 34.9% during the 3rd quarter. Denali Advisors LLC now owns 37,900 shares of the electronics maker’s stock valued at $2,450,000 after purchasing an additional 9,800 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Dolby Laboratories during the 2nd quarter valued at approximately $136,000. Polar Asset Management Partners Inc. raised its position in shares of Dolby Laboratories by 37.1% during the 2nd quarter. Polar Asset Management Partners Inc. now owns 398,552 shares of the electronics maker’s stock valued at $25,746,000 after buying an additional 107,800 shares during the period. Vestmark Advisory Solutions Inc. raised its position in shares of Dolby Laboratories by 3.8% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 8,219 shares of the electronics maker’s stock valued at $531,000 after buying an additional 299 shares during the period. Finally, Magnetar Financial LLC increased its holdings in Dolby Laboratories by 129.7% in the 2nd quarter. Magnetar Financial LLC now owns 8,403 shares of the electronics maker’s stock valued at $543,000 after purchasing an additional 4,744 shares during the last quarter. Hedge funds and other institutional investors own 57.29% of the company’s stock.

Shares of Dolby Laboratories stock traded down $0.48 on Friday, reaching $61.34. The stock had a trading volume of 7,041 shares, compared to its average volume of 343,223. The business’s 50-day moving average price is $62.58 and its two-hundred day moving average price is $63.29. Dolby Laboratories has a fifty-two week low of $56.09 and a fifty-two week high of $71.77. The stock has a market cap of $6.36 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84.

Dolby Laboratories Company Profile

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.

Recommended Story: Moving Average (MA)

Get a free copy of the Zacks research report on Dolby Laboratories (DLB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Dolby Laboratories (NYSE:DLB)

Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.