Dolby Laboratories (NYSE:DLB) Issues FY 2024 Earnings Guidance

Dolby Laboratories (NYSE:DLB) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 3.600-3.750 for the period, compared to the consensus EPS estimate of 3.690. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Dolby Laboratories also updated its Q3 2024 guidance to 0.510-0.660 EPS.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Rosenblatt Securities reiterated a buy rating and set a $98.00 target price on shares of Dolby Laboratories in a research note on Monday, April 29th. StockNews.com downgraded shares of Dolby Laboratories from a buy rating to a hold rating in a report on Friday.

Dolby Laboratories Trading Down 0.1 %

DLB stock traded down $0.09 during mid-day trading on Monday, reaching $81.99. 543,507 shares of the stock traded hands, compared to its average volume of 372,524. Dolby Laboratories has a 52-week low of $75.87 and a 52-week high of $91.01. The company has a market cap of $7.84 billion, a P/E ratio of 41.88 and a beta of 0.98. The stock’s fifty day moving average is $81.65 and its 200-day moving average is $83.25.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. The company had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. Equities research analysts expect that Dolby Laboratories will post 2.6 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be issued a $0.30 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.46%. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

Insider Activity

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the sale, the senior vice president now directly owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 39.54% of the company’s stock.

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.