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.

Wall Street Analyst Weigh In

DLB has been the topic of several recent analyst reports. Rosenblatt Securities reaffirmed a buy rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Monday, April 29th. StockNews.com cut 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. The stock’s fifty day moving average is $81.65 and its 200-day moving average is $83.25. The company has a market cap of $7.84 billion, a P/E ratio of 41.88 and a beta of 0.98. Dolby Laboratories has a 52-week low of $75.87 and a 52-week high of $91.01.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. The business had revenue of $315.57 million during 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%. Equities research analysts expect that Dolby Laboratories will post 2.6 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be given 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 is Monday, May 13th. Dolby Laboratories’s dividend payout ratio (DPR) is 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 that occurred on 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 transaction, the senior vice president now 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 SEC, which is available 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.