Dolby Laboratories (DLB) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.82 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.21. Analysts had a consensus of $0.61. The company posted revenue of $274.30 million in the period, compared to analysts expectations of $263.96 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.
Many Wall Street Analysts have commented on Dolby Laboratories. Company shares were Reiterated by Dougherty & Company on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $38 .Dolby Laboratories was Downgraded by JP Morgan to ” Neutral” on Apr 8, 2016. Company shares were Reiterated by Dougherty & Company on Mar 28, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $38 .
Dolby Laboratories opened for trading at $42.15 and hit $42.82 on the upside on Friday, eventually ending the session at $42.48, with a gain of 0.78% or 0.33 points. The heightened volatility saw the trading volume jump to 2,98,192 shares. Company has a market cap of $4,282 M.
In a different news, on Feb 4, 2016, N William Jr Jasper (director) sold 7,759 shares at $35.49 per share price. According to the SEC, on Feb 4, 2016, Nicholas Jr Donatiello (director) sold 3,880 shares at $35.50 per share price. On Feb 3, 2016, Kevin J Yeaman (President and CEO) sold 2,504 shares at $35.62 per share price, according to the Form-4 filing with the securities and exchange commission.
Dolby Laboratories Inc. (Dolby Laboratories) creates audio imaging and communication technologies that transform entertainment and communications at the cinema at home at work and on mobile devices. The Company licenses its audio technologies and also develops technologies aimed at enhancing voice conferencing communications and imaging. Additionally the Company provides products and services that enable entertainment content creators and distributors to produce encode transmit and playback content for consumer experiences. The Company designs and manufactures audio and imaging products for the film production cinema and television broadcast industries. Distributed in approximately 80 countries these products are used in content creation distribution and playback to enhance image and sound quality and improve transmission and playback.