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

Dolby Laboratories (NYSE:DLB) updated its third quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.510-0.660 for the period, compared to the consensus EPS 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 %

Shares of NYSE:DLB traded down $0.09 during midday trading on Monday, reaching $81.99. The company’s stock had a trading volume of 543,507 shares, compared to its average volume of 372,524. The firm has a market capitalization of $7.84 billion, a PE ratio of 41.88 and a beta of 0.98. 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.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts anticipate that Dolby Laboratories will post 2.6 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be given 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 presently 61.22%.

Wall Street Analyst Weigh In

Several research firms have issued reports on DLB. StockNews.com downgraded shares of Dolby Laboratories from a buy rating to a hold rating in a report on Friday. Rosenblatt Securities reissued a buy rating and issued a $98.00 price target on shares of Dolby Laboratories in a research note on Monday, April 29th.

Insiders Place Their Bets

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction dated 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 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 owned by 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.