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

Dolby Laboratories (NYSE:DLB) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 3.600-3.750 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

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

Dolby Laboratories Stock Down 0.1 %

Shares of DLB stock traded down $0.09 during trading on Monday, reaching $81.99. 543,507 shares of the company’s stock were exchanged, compared to its average volume of 372,524. Dolby Laboratories has a twelve month low of $75.87 and a twelve month high of $91.01. The firm’s fifty day moving average price is $81.65 and its 200-day moving average price is $83.25. The stock has a market capitalization of $7.84 billion, a PE ratio of 41.88 and a beta of 0.98.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating the consensus estimate of $0.62 by $0.14. The firm had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. As a group, analysts anticipate that Dolby Laboratories will post 2.6 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

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

Insider Activity

In other news, SVP John D. Couling sold 33,560 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the transaction, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 39.54% of the stock is currently owned by company insiders.

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.