Zacks Research Issues Negative Estimate for DLB Earnings

Dolby Laboratories, Inc. (NYSE:DLB) – Zacks Research reduced their Q4 2024 earnings estimates for shares of Dolby Laboratories in a note issued to investors on Friday, October 18th. Zacks Research analyst V. Doshi now forecasts that the electronics maker will earn $0.44 per share for the quarter, down from their prior forecast of $0.47. The consensus estimate for Dolby Laboratories’ current full-year earnings is $2.72 per share.

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday, September 20th.

Dolby Laboratories Price Performance

DLB opened at $74.82 on Monday. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $90.06. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 38.17 and a beta of 0.97. The firm’s fifty day moving average price is $72.47 and its two-hundred day moving average price is $77.05.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $288.82 million for the quarter, compared to analyst estimates of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%.

Hedge Funds Weigh In On Dolby Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DLB. Mather Group LLC. bought a new position in Dolby Laboratories in the 1st quarter worth approximately $33,000. Blue Trust Inc. grew its position in shares of Dolby Laboratories by 398.8% in the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 331 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Dolby Laboratories in the second quarter valued at $37,000. GAMMA Investing LLC lifted its holdings in Dolby Laboratories by 64.6% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 192 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Dolby Laboratories by 1,631.0% in the 1st quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock worth $42,000 after purchasing an additional 473 shares during the period. Institutional investors own 58.56% of the company’s stock.

Insider Buying and Selling

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 28,512 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the transaction, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at approximately $6,205,400.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 39.54% of the stock is currently owned by insiders.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. Dolby Laboratories’s payout ratio is currently 61.22%.

Dolby Laboratories announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.