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

Dolby Laboratories, Inc. (NYSE:DLB) – Barrington Research lowered their FY2024 earnings per share estimates for Dolby Laboratories in a research 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 prior estimate 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 posted its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $310.98 million.

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

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $79.22 on Wednesday. Dolby Laboratories has a 1 year low of $75.87 and a 1 year high of $91.01. The stock has a market capitalization of $7.57 billion, a P/E ratio of 41.05 and a beta of 0.97. The company has a 50-day moving average price of $81.57 and a 200-day moving average price of $83.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DLB. Tower Research Capital LLC TRC increased its position in shares of 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 valued at $754,000 after purchasing an additional 118 shares during the last quarter. NEOS Investment Management LLC increased its holdings in Dolby Laboratories by 5.0% during the fourth quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock worth $233,000 after buying an additional 129 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Dolby Laboratories by 0.5% in the third 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 acquiring an additional 133 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of Dolby Laboratories by 1.4% during the 4th quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock valued at $814,000 after acquiring an additional 134 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of 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. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Insiders Place Their Bets

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories 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 transaction, 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 legal filing with the SEC, which is available through this link. 39.54% of the stock is currently owned by insiders.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.51%. The ex-dividend date was Monday, February 12th. Dolby Laboratories’s dividend payout ratio (DPR) is presently 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.