Dolby Laboratories (DLB) to Release Earnings on Tuesday

Dolby Laboratories (NYSE:DLB) will post its quarterly earnings results after the market closes on Tuesday, November 19th. Analysts expect Dolby Laboratories to post earnings of $0.68 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Dolby Laboratories Stock Performance

DLB opened at $75.45 on Tuesday. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $90.06. The firm’s fifty day moving average is $73.35 and its 200 day moving average is $76.30. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 34.45 and a beta of 0.98.

Dolby Laboratories declared that its board has authorized a share repurchase plan on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now owns 83,721 shares in the company, valued at $6,205,400.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 39.54% of the company’s stock.

Analyst Ratings Changes

DLB has been the topic of several research analyst reports. Barrington Research reiterated an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, September 20th. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.