Dolby Laboratories (NYSE:DLB) Issues Q1 Earnings Guidance

Dolby Laboratories (NYSE:DLB) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.53-0.68 for the period, compared to the consensus EPS estimate of $0.84. The company issued revenue guidance of $330-360 million, compared to the consensus revenue estimate of $337.94 million. Dolby Laboratories also updated its FY25 guidance to $2.43-2.58 EPS.

Dolby Laboratories Stock Performance

Dolby Laboratories stock traded down $0.44 during trading hours on Tuesday, hitting $70.91. 385,415 shares of the stock were exchanged, compared to its average volume of 396,072. Dolby Laboratories has a 12 month low of $66.35 and a 12 month high of $90.06. The business’s 50-day moving average is $73.66 and its two-hundred day moving average is $76.09. The stock has a market capitalization of $6.76 billion, a P/E ratio of 32.38 and a beta of 0.98.

Dolby Laboratories declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on DLB shares. StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Monday. Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 20th.

Insiders Place Their Bets

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the transaction, the chief executive officer now owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. The trade was a 25.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 39.54% of the company’s stock.

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.