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.
Wall Street Analyst Weigh In
Several research firms recently issued reports on DLB. StockNews.com downgraded Dolby Laboratories from a buy rating to a hold rating in a research report on Friday. Rosenblatt Securities reaffirmed a buy rating and set a $98.00 price target on shares of Dolby Laboratories in a research report on Monday, April 29th.
View Our Latest Research Report on Dolby Laboratories
Dolby Laboratories Trading Down 0.1 %
Dolby Laboratories (NYSE:DLB – Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.15% and a net margin of 15.00%. The company had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. On average, equities analysts anticipate that Dolby Laboratories will post 2.6 EPS for the current year.
Dolby Laboratories Dividend Announcement
The company 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, May 13th. Dolby Laboratories’s payout ratio is currently 61.22%.
Insider Transactions at Dolby Laboratories
In other news, SVP John D. Couling sold 33,560 shares of the 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 sale, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 39.54% of the company’s stock.
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.
Read More
- Five stocks we like better than Dolby Laboratories
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- 3 CEO-Led Turnaround Stocks You Can Still Buy
- Are Penny Stocks a Good Fit for Your Portfolio?
- 3 Value Stocks You Can Buy Before They Become Big
- The How and Why of Investing in Gold Stocks
- Chinese Stocks Stage Impressive Rebound
Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.