Dolby Laboratories (NYSE:DLB) Updates Q3 2024 Earnings Guidance

Dolby Laboratories (NYSE:DLB) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.510-0.660 for the period, compared to the consensus estimate of 0.770. The company issued revenue guidance of $270.0 million-$300.0 million, compared to the consensus revenue estimate of $313.6 million. Dolby Laboratories also updated its FY 2024 guidance to 3.600-3.750 EPS.

Dolby Laboratories Stock Down 0.1 %

DLB stock traded down $0.09 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 stock has a fifty day moving average of $81.65 and a 200-day moving average of $83.25. The firm has a market cap of $7.84 billion, a PE ratio of 41.88 and a beta of 0.98.

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

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DLB shares. Rosenblatt Securities reaffirmed a buy rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Monday, April 29th. StockNews.com downgraded Dolby Laboratories from a buy rating to a hold rating in a research note on Friday.

Insider Transactions at Dolby Laboratories

In related 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 value of $2,711,983.60. Following the sale, the senior vice president now owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Company Profile

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.