FY2024 EPS Estimates for Dolby Laboratories, Inc. (NYSE:DLB) Decreased by Analyst

Dolby Laboratories, Inc. (NYSE:DLB) – Investment analysts at Barrington Research dropped their FY2024 earnings estimates for Dolby Laboratories in a research note issued to investors on Monday, April 22nd. Barrington Research analyst J. Goss now expects that the electronics maker will post earnings of $2.52 per share for the year, down from their prior forecast of $2.59. The consensus estimate for Dolby Laboratories’ current full-year earnings is $2.60 per share. Barrington Research also issued estimates for Dolby Laboratories’ FY2025 earnings at $2.63 EPS.

Other research analysts have also recently issued research reports about the company. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a report on Wednesday, January 31st.

Dolby Laboratories Stock Up 0.4 %

NYSE DLB opened at $79.91 on Wednesday. Dolby Laboratories has a 12-month low of $75.87 and a 12-month high of $91.01. The firm has a 50-day moving average price of $81.58 and a two-hundred day moving average price of $83.33. The company has a market capitalization of $7.64 billion, a P/E ratio of 41.40 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The business had revenue of $315.57 million for the quarter, compared to analyst estimates of $310.98 million.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Monday, February 12th. Dolby Laboratories’s dividend payout ratio is 62.18%.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was 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 of the company’s stock, valued at approximately $8,769,420.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 39.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Dolby Laboratories

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its holdings in Dolby Laboratories by 1.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,517 shares of the electronics maker’s stock worth $754,000 after buying an additional 118 shares during the period. NEOS Investment Management LLC boosted its holdings in Dolby Laboratories by 5.0% in the fourth quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock valued at $233,000 after acquiring an additional 129 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Dolby Laboratories by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 26,817 shares of the electronics maker’s stock valued at $2,126,000 after purchasing an additional 133 shares during the period. Bleakley Financial Group LLC raised its holdings in Dolby Laboratories by 1.4% during the 4th quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock worth $814,000 after purchasing an additional 134 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Dolby Laboratories by 0.8% during the 3rd quarter. Arizona State Retirement System now owns 16,918 shares of the electronics maker’s stock worth $1,341,000 after purchasing an additional 139 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

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.