Barrington Research Analysts Lower Earnings Estimates for Dolby Laboratories, Inc. (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB) – Research analysts at Barrington Research cut their FY2024 EPS estimates for shares of Dolby Laboratories in a note issued to investors on Monday, April 22nd. Barrington Research analyst J. Goss now anticipates that the electronics maker will post earnings of $2.52 per share for the year, down from their prior forecast of $2.59. The consensus estimate for Dolby Laboratories’ current full-year earnings is $2.60 per share. Barrington Research also issued estimates for Dolby Laboratories’ FY2025 earnings at $2.63 EPS.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. The company had revenue of $315.57 million during the quarter, compared to the consensus estimate of $310.98 million. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%.

DLB has been the topic of a number of other research reports. Rosenblatt Securities restated a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research report on Wednesday, January 31st. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd.

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $79.91 on Wednesday. The business has a fifty day moving average price of $81.58 and a two-hundred day moving average price of $83.33. The stock has a market capitalization of $7.64 billion, a PE ratio of 41.40 and a beta of 0.97. Dolby Laboratories has a fifty-two week low of $75.87 and a fifty-two week high of $91.01.

Institutional Trading of Dolby Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ninety One UK Ltd increased its stake in Dolby Laboratories by 29.0% during the 4th quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock valued at $221,685,000 after purchasing an additional 578,239 shares in the last quarter. Morgan Stanley increased its position in shares of Dolby Laboratories by 11.9% during the third quarter. Morgan Stanley now owns 4,902,295 shares of the electronics maker’s stock worth $388,556,000 after acquiring an additional 523,250 shares in the last quarter. Norges Bank acquired a new stake in shares of Dolby Laboratories in the 4th quarter worth about $42,067,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in Dolby Laboratories by 4.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock valued at $415,808,000 after acquiring an additional 239,578 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Dolby Laboratories in the 3rd quarter valued at about $18,702,000. 58.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction 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 in the company, valued at approximately $8,769,420.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were given a $0.30 dividend. The ex-dividend date was Monday, February 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. Dolby Laboratories’s dividend payout ratio (DPR) is presently 62.18%.

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.