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

Dolby Laboratories (NYSE:DLB) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.510-0.660 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

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

Dolby Laboratories Trading Down 0.1 %

NYSE:DLB traded down $0.09 during midday trading on Monday, hitting $81.99. 543,507 shares of the company were exchanged, compared to its average volume of 372,524. The company has a fifty day simple moving average of $81.65 and a 200 day simple moving average of $83.25. Dolby Laboratories has a fifty-two week low of $75.87 and a fifty-two week high of $91.01. The company 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 announced its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 EPS 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 business had revenue of $315.57 million during the quarter, compared to the consensus estimate of $310.98 million. As a group, equities research analysts expect that Dolby Laboratories will post 2.6 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, May 13th. This represents a $1.20 annualized dividend and a yield of 1.46%. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

Insider Activity

In related news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction dated 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 completion of the sale, 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 filing with the SEC, which can be accessed through this link. 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.