Fintel reports that on April 14, 2023, Tigress Financial reiterated coverage of Dolby Laboratories (NYSE:DLB) with a Buy recommendation.
Analyst Price Forecast Suggests 7.32% Upside
As of April 6, 2023, the average one-year price target for Dolby Laboratories is $91.80. The forecasts range from a low of $90.90 to a high of $94.50. The average price target represents an increase of 7.32% from its latest reported closing price of $85.54.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dolby Laboratories is $1,290MM, an increase of 4.28%. The projected annual non-GAAP EPS is $3.39.
Dolby Laboratories Declares $0.27 Dividend
On February 2, 2023 the company declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Shareholders of record as of February 14, 2023 received the payment on February 22, 2023. Previously, the company paid $0.27 per share.
At the current share price of $85.54 / share, the stock's dividend yield is 1.26%. Looking back five years and taking a sample every week, the average dividend yield has been 1.18%, the lowest has been 0.85%, and the highest has been 1.80%. The standard deviation of yields is 0.20 (n=236).
The current dividend yield is 0.41 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.56. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.23%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
First Trust Advisors holds 130K shares representing 0.14% ownership of the company. In it's prior filing, the firm reported owning 193K shares, representing a decrease of 48.43%. The firm decreased its portfolio allocation in DLB by 33.20% over the last quarter.
Colonial Trust holds 0K shares representing 0.00% ownership of the company.
DFQTX - U.s. Core Equity 2 Portfolio - Institutional Class holds 118K shares representing 0.12% ownership of the company. No change in the last quarter.
Johnson Midwest Financial holds 0K shares representing 0.00% ownership of the company.
Steward Financial Group holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
What is the Fund Sentiment?
There are 727 funds or institutions reporting positions in Dolby Laboratories.
This is an increase
of
1
owner(s) or 0.14% in the last quarter.
Average portfolio weight of all funds dedicated to DLB is 0.22%,
an increase
of 6.75%.
Total shares owned by institutions increased
in the last three months by 3.03% to 69,477K shares.
The put/call ratio of DLB is 21.09, indicating a
bearish
outlook.
Dolby Laboratories Background Information
(This description is provided by the company.)
Dolby Laboratories is based in San Francisco with offices in over 20 countries around the globe. Dolby transforms the science of sight and sound into spectacular experiences. Through innovative research and engineering, Dolby creates breakthrough experiences for billions of people worldwide through a collaborative ecosystem spanning artists, businesses, and consumers. The experiences people have - with Dolby Cinema, Dolby Vision, Dolby Atmos, Dolby Audio, and Dolby Voice - revolutionize entertainment and communications at the cinema, on the go, in the home, and at work.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
