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

Dolby Laboratories (NYSE:DLB) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 3.600-3.750 for the period, compared to the consensus 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.

Dolby Laboratories Stock Performance

Shares of NYSE DLB traded down $0.09 during trading hours on Monday, hitting $81.99. The company’s stock had a trading volume of 543,507 shares, compared to its average volume of 372,524. Dolby Laboratories has a 12 month low of $75.87 and a 12 month high of $91.01. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 41.88 and a beta of 0.98. The business has a 50-day simple moving average of $81.65 and a 200-day simple moving average of $83.25.

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 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 return on equity of 10.15% and a net margin of 15.00%. On average, equities research analysts forecast that Dolby Laboratories will post 2.6 EPS for the current year.

Dolby Laboratories Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Dolby Laboratories

In other news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 108,519 shares in the company, valued at approximately $8,769,420.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 39.54% of the stock is currently owned by corporate 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.