Dolby Laboratories (NYSE:DLB – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.510-0.660 for the period, compared to the consensus earnings per share 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 stock traded down $0.09 during trading on Monday, hitting $81.99. The company had a trading volume of 543,507 shares, compared to its average volume of 372,524. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 41.88 and a beta of 0.98. The business has a 50 day moving average of $81.65 and a 200 day moving average of $83.25. Dolby Laboratories has a fifty-two week low of $75.87 and a fifty-two week high of $91.01.
Dolby Laboratories (NYSE:DLB – Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating 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 business had revenue of $315.57 million during the quarter, compared to analysts’ expectations of $310.98 million. As a group, equities analysts predict that Dolby Laboratories will post 2.6 EPS for the current year.
Dolby Laboratories Announces Dividend
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on DLB. StockNews.com lowered shares of Dolby Laboratories from a buy rating to a hold rating in a research report on Friday. Rosenblatt Securities reaffirmed a buy rating and issued a $98.00 target price on shares of Dolby Laboratories in a research report on Monday, April 29th.
Read Our Latest Report on Dolby Laboratories
Insider Activity at Dolby Laboratories
In related news, SVP John D. Couling sold 33,560 shares of the firm’s 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this link. 39.54% of the stock is currently owned by 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.
See Also
- Five stocks we like better than Dolby Laboratories
- Canadian Penny Stocks: Can They Make You Rich?
- 3 CEO-Led Turnaround Stocks You Can Still Buy
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- 3 Value Stocks You Can Buy Before They Become Big
- When to Sell a Stock for Profit or Loss
- Chinese Stocks Stage Impressive Rebound
Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.