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

Dolby Laboratories (NYSE:DLB) issued an update on its FY 2024 earnings guidance on Friday morning. 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.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. 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 lowered Dolby Laboratories from a buy rating to a hold rating in a research report on Friday.

Dolby Laboratories Price Performance

DLB stock traded down $0.09 during midday trading on Monday, reaching $81.99. 543,507 shares of the company were exchanged, compared to its average volume of 372,524. The business has a 50-day moving average price of $81.65 and a two-hundred day moving average price of $83.25. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 41.88 and a beta of 0.98. Dolby Laboratories has a one year low of $75.87 and a one year high of $91.01.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. The business had revenue of $315.57 million during the quarter, compared to analysts’ expectations of $310.98 million. As a group, analysts anticipate that Dolby Laboratories will post 2.6 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders 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 yield of 1.46%. The ex-dividend date of this dividend is Monday, May 13th. Dolby Laboratories’s payout ratio is presently 61.22%.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction 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 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 document filed with the SEC, which is available at this hyperlink. 39.54% of the stock is owned by insiders.

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.