Dolby Laboratories (NYSE:DLB) Releases Q3 Earnings Guidance

Dolby Laboratories (NYSE:DLB) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.51-0.66 for the period, compared to the consensus estimate of $0.58. The company issued revenue guidance of $270-300 million, compared to the consensus revenue estimate of $313.64 million. Dolby Laboratories also updated its FY24 guidance to $3.60-3.75 EPS.

Dolby Laboratories Price Performance

Shares of DLB stock traded up $2.37 during trading hours on Friday, hitting $82.08. The company had a trading volume of 730,646 shares, compared to its average volume of 313,915. Dolby Laboratories has a fifty-two week low of $75.87 and a fifty-two week high of $91.01. The company’s fifty day moving average is $81.65 and its 200 day moving average is $83.25. The stock has a market capitalization of $7.85 billion, a PE ratio of 41.88 and a beta of 0.98.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.22% and a net margin of 15.00%. The company had revenue of $315.57 million for the quarter, compared to analysts’ expectations of $310.98 million. Equities analysts forecast that Dolby Laboratories will post 2.6 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

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

Analyst Ratings Changes

DLB has been the subject of several research reports. 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 lowered shares of Dolby Laboratories from a buy rating to a hold rating in a research note on Friday.

Insider Transactions at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction on 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 transaction, the senior vice president now directly owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a document filed with the SEC, which is available at 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.