Equities Analysts Issue Forecasts for Dolby Laboratories, Inc.’s Q3 2024 Earnings (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB) – Equities researchers at Barrington Research lowered their Q3 2024 earnings per share estimates for shares of Dolby Laboratories in a research report issued on Monday, May 6th. Barrington Research analyst J. Goss now forecasts that the electronics maker will earn $0.35 per share for the quarter, down from their prior estimate 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.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research report on Monday, April 29th.

Dolby Laboratories Price Performance

NYSE DLB opened at $82.60 on Thursday. The stock has a market capitalization of $7.89 billion, a P/E ratio of 42.14 and a beta of 0.98. The firm’s 50-day moving average is $81.72 and its two-hundred day moving average is $83.28. Dolby Laboratories has a 12 month low of $75.87 and a 12 month high of $91.01.

Institutional Investors Weigh In On Dolby Laboratories

Large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky purchased a new stake in Dolby Laboratories during the 3rd quarter worth about $1,610,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Dolby Laboratories during the fourth quarter worth approximately $2,229,000. Envestnet Asset Management Inc. boosted its holdings in Dolby Laboratories by 64.0% in the third quarter. Envestnet Asset Management Inc. now owns 466,282 shares of the electronics maker’s stock valued at $36,958,000 after purchasing an additional 181,904 shares in the last quarter. Pacer Advisors Inc. increased its stake in Dolby Laboratories by 115.5% in the fourth quarter. Pacer Advisors Inc. now owns 16,418 shares of the electronics maker’s stock valued at $1,415,000 after purchasing an additional 8,798 shares during the last quarter. Finally, Amalgamated Bank increased its stake in Dolby Laboratories by 331.3% in the third quarter. Amalgamated Bank now owns 41,227 shares of the electronics maker’s stock valued at $3,268,000 after purchasing an additional 31,668 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insider Activity

In related news, SVP John D. Couling sold 33,560 shares of the company’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 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 sale 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be given 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 dividend payout ratio is presently 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.