Dolby Laboratories (NYSE:DLB – Get Free Report) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.510-0.660 for the period, compared to the consensus estimate of 0.770. The company issued revenue guidance of $270.0 million-$300.0 million, compared to the consensus revenue estimate of $313.6 million. Dolby Laboratories also updated its FY 2024 guidance to 3.600-3.750 EPS.
Dolby Laboratories Trading Down 0.1 %
DLB traded down $0.09 during midday trading on Monday, hitting $81.99. 543,507 shares of the company traded hands, compared to its average volume of 372,524. The business has a 50 day simple moving average of $81.65 and a two-hundred day simple moving average of $83.25. Dolby Laboratories has a 52-week low of $75.87 and a 52-week high of $91.01. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 41.88 and a beta of 0.98.
Dolby Laboratories (NYSE:DLB – Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. The firm had revenue of $315.57 million during the quarter, compared to the consensus estimate of $310.98 million. Equities research analysts anticipate that Dolby Laboratories will post 2.6 earnings per share for the current year.
Dolby Laboratories Announces Dividend
Wall Street Analysts Forecast Growth
Several analysts recently commented on DLB shares. StockNews.com cut Dolby Laboratories from a buy rating to a hold rating in a research report on Friday. Rosenblatt Securities reaffirmed a buy rating and set a $98.00 target price on shares of Dolby Laboratories in a report on Monday, April 29th.
Get Our Latest Stock Report on Dolby Laboratories
Insiders Place Their Bets
In related news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction that occurred 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 transaction, the senior vice president now owns 108,519 shares in the company, valued at $8,769,420.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 39.54% of the company’s stock.
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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