Dolby Laboratories, Inc. (NYSE:DLB) to Post FY2024 Earnings of $2.52 Per Share, Barrington Research Forecasts

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

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

Several other equities research analysts also recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Wednesday, January 31st. StockNews.com raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Friday, February 2nd.

Dolby Laboratories Price Performance

Shares of DLB opened at $79.64 on Wednesday. The firm has a market cap of $7.61 billion, a PE ratio of 41.26 and a beta of 0.97. Dolby Laboratories has a 1 year low of $75.87 and a 1 year high of $91.01. The stock’s fifty day moving average price is $81.57 and its two-hundred day moving average price is $83.36.

Institutional Investors Weigh In On Dolby Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Dolby Laboratories by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock valued at $506,399,000 after acquiring an additional 205,319 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in 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 valued at $415,808,000 after purchasing an additional 239,578 shares during the last quarter. Morgan Stanley grew its stake in Dolby Laboratories by 11.9% in the 3rd quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock worth $388,556,000 after buying an additional 523,250 shares in the last quarter. Ninety One UK Ltd increased its holdings in shares of Dolby Laboratories by 29.0% in the 4th quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock worth $221,685,000 after buying an additional 578,239 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Dolby Laboratories by 12.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,884,088 shares of the electronics maker’s stock valued at $149,333,000 after buying an additional 209,369 shares in the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling at Dolby Laboratories

In other news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 39.54% of the company’s stock.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 annualized dividend and a yield of 1.51%. Dolby Laboratories’s dividend payout ratio is currently 62.18%.

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.