Dolby Laboratories (NYSE:DLB) Releases FY 2022 Earnings Guidance

Dolby Laboratories (NYSE:DLBGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.27-$3.77 for the period, compared to the consensus estimate of $3.80. The company issued revenue guidance of $1.30 billion-$1.35 billion, compared to the consensus revenue estimate of $1.37 billion.Dolby Laboratories also updated its Q3 2022 guidance to $0.54-$0.69 EPS.

DLB has been the subject of several recent research reports. StockNews.com lowered Dolby Laboratories from a buy rating to a hold rating in a report on Thursday, May 12th. TheStreet raised Dolby Laboratories from a c+ rating to a b- rating in a report on Friday, April 22nd. Zacks Investment Research raised Dolby Laboratories from a sell rating to a hold rating and set a $76.00 price target for the company in a report on Monday, March 7th. Finally, Barrington Research cut their price target on Dolby Laboratories from $115.00 to $90.00 in a report on Thursday, May 12th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $83.00.

Shares of NYSE DLB traded up $0.53 during mid-day trading on Thursday, reaching $75.53. The company’s stock had a trading volume of 471,046 shares, compared to its average volume of 547,534. The firm has a market capitalization of $7.62 billion, a PE ratio of 36.07, a P/E/G ratio of 1.79 and a beta of 0.99. The stock has a fifty day moving average of $76.03 and a two-hundred day moving average of $82.36. Dolby Laboratories has a 52 week low of $69.18 and a 52 week high of $104.25.

Dolby Laboratories (NYSE:DLBGet Rating) last released its quarterly earnings data on Thursday, May 5th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. The firm had revenue of $334.37 million during the quarter, compared to analyst estimates of $332.51 million. Dolby Laboratories had a return on equity of 9.72% and a net margin of 17.14%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 earnings per share. As a group, equities research analysts anticipate that Dolby Laboratories will post 2.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 25th. Stockholders of record on Tuesday, May 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Monday, May 16th. Dolby Laboratories’s dividend payout ratio (DPR) is 48.31%.

In related news, SVP John D. Couling sold 500 shares of the business’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $72.61, for a total value of $36,305.00. Following the sale, the senior vice president now directly owns 80,172 shares in the company, valued at $5,821,288.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.06% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. First Trust Advisors LP raised its position in Dolby Laboratories by 320.2% during the first quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock valued at $84,614,000 after purchasing an additional 824,296 shares during the period. UBS Group AG raised its position in Dolby Laboratories by 55.0% during the first quarter. UBS Group AG now owns 339,670 shares of the electronics maker’s stock valued at $26,569,000 after purchasing an additional 120,496 shares during the period. Vanguard Group Inc. raised its position in Dolby Laboratories by 1.6% during the first quarter. Vanguard Group Inc. now owns 6,257,157 shares of the electronics maker’s stock valued at $489,435,000 after purchasing an additional 99,453 shares during the period. Lazard Asset Management LLC raised its position in Dolby Laboratories by 7.4% during the first quarter. Lazard Asset Management LLC now owns 748,067 shares of the electronics maker’s stock valued at $58,513,000 after purchasing an additional 51,779 shares during the period. Finally, State Street Corp raised its position in Dolby Laboratories by 3.6% during the first quarter. State Street Corp now owns 1,065,998 shares of the electronics maker’s stock valued at $83,382,000 after purchasing an additional 36,881 shares during the period. Institutional investors own 59.34% of the company’s stock.

Dolby Laboratories Company Profile (Get Rating)

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV, transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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, an digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.

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Earnings History and Estimates for Dolby Laboratories (NYSE:DLB)

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