Q2 2024 Earnings Forecast for Dolby Laboratories, Inc. (NYSE:DLB) Issued By Barrington Research

Dolby Laboratories, Inc. (NYSE:DLB) – Research analysts at Barrington Research reduced their Q2 2024 earnings per share estimates for shares of Dolby Laboratories in a report released on Monday, April 22nd. Barrington Research analyst J. Goss now anticipates that the electronics maker will post earnings per share of $0.90 for the quarter, down from their prior forecast of $0.97. The consensus estimate for Dolby Laboratories’ current full-year earnings is $2.60 per share. Barrington Research also issued estimates for Dolby Laboratories’ Q2 2025 earnings at $0.90 EPS.

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

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

Dolby Laboratories Trading Up 0.6 %

Shares of DLB stock opened at $79.64 on Thursday. Dolby Laboratories has a 12-month low of $75.87 and a 12-month high of $91.01. The stock’s 50-day moving average price is $81.57 and its 200-day moving average price is $83.36. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 41.26 and a beta of 0.97.

Hedge Funds Weigh In On Dolby Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of DLB. Vanguard Group Inc. raised its stake in Dolby Laboratories by 3.3% during the third quarter. Vanguard Group Inc. now owns 6,389,084 shares of the electronics maker’s stock worth $506,399,000 after purchasing an additional 205,319 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Dolby Laboratories by 4.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,246,122 shares of the electronics maker’s stock worth $415,808,000 after purchasing an additional 239,578 shares during the period. Morgan Stanley raised its stake in 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 purchasing an additional 523,250 shares during the period. Ninety One UK Ltd raised its stake in Dolby Laboratories by 29.0% during the fourth quarter. Ninety One UK Ltd now owns 2,572,346 shares of the electronics maker’s stock worth $221,685,000 after purchasing an additional 578,239 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Dolby Laboratories by 12.5% during the third quarter. Bank of New York Mellon Corp now owns 1,884,088 shares of the electronics maker’s stock worth $149,333,000 after purchasing an additional 209,369 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insider Activity at Dolby Laboratories

In related news, SVP John D. Couling sold 33,560 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the completion of the transaction, the senior vice president now owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 39.54% of the stock is owned by company insiders.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Tuesday, February 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. Dolby Laboratories’s payout ratio is 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.