Dolby Laboratories (NYSE:DLB – Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.600-3.750 for the period, compared to the consensus earnings per share estimate of 3.690. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Dolby Laboratories also updated its Q3 2024 guidance to 0.510-0.660 EPS.
Analysts Set New Price Targets
A number of equities analysts recently commented on DLB shares. Rosenblatt Securities reaffirmed a buy rating and issued a $98.00 target price on shares of Dolby Laboratories in a report on Monday, April 29th. StockNews.com lowered shares of Dolby Laboratories from a buy rating to a hold rating in a research report on Friday.
Check Out Our Latest Stock Analysis on DLB
Dolby Laboratories Price Performance
Dolby Laboratories (NYSE:DLB – Get Free Report) last issued its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) 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 firm had revenue of $315.57 million for the quarter, compared to analysts’ expectations of $310.98 million. Analysts anticipate that Dolby Laboratories will post 2.6 EPS for the current fiscal year.
Dolby Laboratories Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, May 13th. Dolby Laboratories’s payout ratio is 61.22%.
Insider Buying and Selling
In related news, SVP John D. Couling sold 33,560 shares of the 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 in the company, valued at approximately $8,769,420.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 39.54% of the stock is currently owned by company insiders.
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.
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