Dolby Laboratories (NYSE:DLB – Get Free Report) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.510-0.660 for the period, compared to the consensus earnings per share 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.
Analyst Ratings Changes
Several brokerages have commented on DLB. Rosenblatt Securities restated a buy rating and set a $98.00 price target on shares of Dolby Laboratories in a research note on Monday, April 29th. StockNews.com lowered Dolby Laboratories from a buy rating to a hold rating in a research note on Friday.
View Our Latest Analysis on DLB
Dolby Laboratories Stock Performance
Dolby Laboratories (NYSE:DLB – Get Free Report) last posted its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. The business had revenue of $315.57 million during the quarter, compared to analyst estimates of $310.98 million. As a group, equities analysts expect that Dolby Laboratories will post 2.6 earnings per share for the current year.
Dolby Laboratories Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be paid a $0.30 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.46%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 61.22%.
Insider Activity
In other news, SVP John D. Couling sold 33,560 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.
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