Dolby Laboratories (NYSE:DLB) Updates FY24 Earnings Guidance

Dolby Laboratories (NYSE:DLB) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.60-3.75 for the period, compared to the consensus earnings per share estimate of $2.77. The company issued revenue guidance of $1.3 billion, compared to the consensus revenue estimate of $1.30 billion. Dolby Laboratories also updated its Q3 guidance to $0.51-0.66 EPS.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Rosenblatt Securities restated a buy rating and issued a $98.00 price target on shares of Dolby Laboratories in a report on Monday. StockNews.com raised shares of Dolby Laboratories from a hold rating to a buy rating in a research report on Friday, February 2nd.

Dolby Laboratories Stock Performance

Shares of DLB traded up $2.13 during mid-day trading on Thursday, reaching $79.71. 614,505 shares of the company’s stock traded hands, compared to its average volume of 366,300. The stock has a market capitalization of $7.62 billion, a P/E ratio of 41.30 and a beta of 0.98. Dolby Laboratories has a 12 month low of $75.87 and a 12 month high of $91.01. The business’s 50-day moving average price is $81.61 and its 200-day moving average price is $83.25.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The company had revenue of $315.57 million during the quarter, compared to analyst estimates of $310.98 million. Equities research analysts anticipate that Dolby Laboratories will post 2.6 EPS for the current year.

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 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 completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 39.54% of the stock is currently owned by corporate insiders.

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.