Dolby Laboratories, Inc. (NYSE:DLB) announced a quarterly dividend on Wednesday, January 30th, NASDAQ reports. Investors of record on Tuesday, February 12th will be given a dividend of 0.19 per share by the electronics maker on Thursday, February 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Monday, February 11th.
Dolby Laboratories has raised its dividend by an average of 16.8% per year over the last three years and has increased its dividend every year for the last 4 years. Dolby Laboratories has a payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dolby Laboratories to earn $2.80 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 27.1%.
Dolby Laboratories stock opened at $65.66 on Wednesday. The firm has a market cap of $6.70 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.86. Dolby Laboratories has a 52-week low of $58.17 and a 52-week high of $72.04.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Wednesday, January 30th. The electronics maker reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.40. The company had revenue of $302.40 million for the quarter, compared to the consensus estimate of $295.04 million. Dolby Laboratories had a net margin of 25.47% and a return on equity of 11.52%. Dolby Laboratories’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.80) earnings per share. As a group, equities analysts forecast that Dolby Laboratories will post 2.24 EPS for the current year.
In other Dolby Laboratories news, SVP Giles Baker sold 6,032 shares of the business’s stock in a transaction on Tuesday, December 18th. The shares were sold at an average price of $64.53, for a total transaction of $389,244.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kevin J. Yeaman sold 17,601 shares of the company’s stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $64.58, for a total transaction of $1,136,672.58. The disclosure for this sale can be found here. Insiders have sold 28,359 shares of company stock worth $1,830,981 in the last quarter. Company insiders own 40.23% of the company’s stock.
A number of research firms have weighed in on DLB. Zacks Investment Research upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Thursday, January 24th. Barrington Research reiterated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 31st. R. F. Lafferty cut their price objective on shares of Dolby Laboratories from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. Finally, B. Riley set a $67.00 price objective on shares of Dolby Laboratories and gave the company a “hold” rating in a research report on Tuesday, December 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Dolby Laboratories has a consensus rating of “Buy” and a consensus target price of $75.75.
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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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