Barrington Research Comments on Dolby Laboratories, Inc.’s FY2024 Earnings (NYSE:DLB)

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

A number of other analysts have also recently issued reports on DLB. StockNews.com raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Rosenblatt Securities restated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a report on Wednesday, January 31st.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $79.22 on Wednesday. The company has a market capitalization of $7.57 billion, a P/E ratio of 41.05 and a beta of 0.97. The business has a 50-day moving average of $81.57 and a two-hundred day moving average of $83.36. Dolby Laboratories has a 1 year low of $75.87 and a 1 year high of $91.01.

Dolby Laboratories (NYSE:DLB) last announced 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 for the quarter, compared to analysts’ expectations of $310.98 million.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Tuesday, February 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.51%. The ex-dividend date was Monday, February 12th. Dolby Laboratories’s payout ratio is 62.18%.

Insiders Place Their Bets

In other 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 value of $2,711,983.60. Following the sale, 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 SEC, which is accessible through the SEC website. Insiders own 39.54% of the company’s stock.

Institutional Trading of Dolby Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of DLB. Tower Research Capital LLC TRC increased its position in shares of Dolby Laboratories by 1.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,517 shares of the electronics maker’s stock worth $754,000 after purchasing an additional 118 shares during the last quarter. NEOS Investment Management LLC raised its position in Dolby Laboratories by 5.0% during the fourth quarter. NEOS Investment Management LLC now owns 2,709 shares of the electronics maker’s stock worth $233,000 after acquiring an additional 129 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in Dolby Laboratories by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 26,817 shares of the electronics maker’s stock valued at $2,126,000 after acquiring an additional 133 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of Dolby Laboratories by 1.4% in the 4th quarter. Bleakley Financial Group LLC now owns 9,444 shares of the electronics maker’s stock valued at $814,000 after acquiring an additional 134 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Dolby Laboratories by 0.8% during the 3rd quarter. Arizona State Retirement System now owns 16,918 shares of the electronics maker’s stock worth $1,341,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

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.