Q3 2024 EPS Estimates for Dolby Laboratories, Inc. Lowered by Barrington Research (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB) – Research analysts at Barrington Research lowered their Q3 2024 EPS estimates for shares of Dolby Laboratories in a report released on Monday, May 6th. Barrington Research analyst J. Goss now expects that the electronics maker will post earnings of $0.35 per share for the quarter, down from their prior forecast of $0.45. The consensus estimate for Dolby Laboratories’ current full-year earnings is $2.60 per share. Barrington Research also issued estimates for Dolby Laboratories’ Q4 2024 earnings at $0.52 EPS.

DLB has been the topic of several other research reports. StockNews.com cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Rosenblatt Securities restated a “buy” rating and issued a $98.00 price objective on shares of Dolby Laboratories in a research note on Monday, April 29th.

Dolby Laboratories Price Performance

Shares of DLB stock opened at $82.60 on Thursday. Dolby Laboratories has a one year low of $75.87 and a one year high of $91.01. The firm has a 50-day moving average of $81.72 and a 200-day moving average of $83.28. The company has a market cap of $7.89 billion, a P/E ratio of 42.14 and a beta of 0.98.

Institutional Investors Weigh In On Dolby Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Dolby Laboratories by 3.3% in the third quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock valued at $506,399,000 after purchasing an additional 205,319 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Dolby Laboratories by 4.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock worth $415,808,000 after acquiring an additional 239,578 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Dolby Laboratories by 11.9% in the third quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock worth $388,556,000 after acquiring an additional 523,250 shares during the period. Ninety One UK Ltd grew its position in shares of Dolby Laboratories by 29.0% in the fourth quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock valued at $221,685,000 after purchasing an additional 578,239 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Dolby Laboratories by 11.2% during the 1st quarter. Bank of New York Mellon Corp now owns 2,324,244 shares of the electronics maker’s stock valued at $194,702,000 after purchasing an additional 233,958 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Dolby Laboratories 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 value of $2,711,983.60. Following the completion of the sale, the senior vice president now directly owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 39.54% of the stock is currently owned by insiders.

Dolby Laboratories Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.45%. Dolby Laboratories’s payout ratio is currently 61.22%.

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.