Barrington Research Brokers Reduce Earnings Estimates for Dolby Laboratories, Inc. (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB - Free Report) - Analysts at Barrington Research lowered their Q2 2024 earnings per share (EPS) estimates for Dolby Laboratories in a research report issued to clients and investors on Monday, April 22nd. Barrington Research analyst J. Goss now forecasts that the electronics maker will post earnings per share of $0.90 for the quarter, down from their previous 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 - Get Free Report) last announced its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 10.21% and a net margin of 14.70%.

Several other analysts also recently weighed in on DLB. StockNews.com upgraded Dolby Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, February 2nd. Rosenblatt Securities reiterated a "buy" rating and issued a $98.00 price target on shares of Dolby Laboratories in a research note on Wednesday, January 31st.

Dolby Laboratories Stock Up 0.4 %

Shares of Dolby Laboratories stock traded up $0.33 during trading hours on Thursday, hitting $79.91. 198,916 shares of the company's stock traded hands, compared to its average volume of 364,447. The stock has a 50 day simple moving average of $81.58 and a 200-day simple moving average of $83.33. The company has a market cap of $7.64 billion, a PE ratio of 41.40 and a beta of 0.97. Dolby Laboratories has a twelve month low of $75.87 and a twelve month high of $91.01.

Hedge Funds Weigh In On Dolby Laboratories

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in shares of Dolby Laboratories by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 2,324,244 shares of the electronics maker's stock valued at $194,702,000 after buying an additional 233,958 shares during the last quarter. Simplicity Wealth LLC bought a new stake in Dolby Laboratories during the first quarter worth approximately $830,000. Assenagon Asset Management S.A. raised its holdings in Dolby Laboratories by 18.6% during the first quarter. Assenagon Asset Management S.A. now owns 25,469 shares of the electronics maker's stock worth $2,134,000 after purchasing an additional 4,003 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Dolby Laboratories by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the electronics maker's stock worth $1,432,000 after purchasing an additional 400 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in Dolby Laboratories by 5.0% during the first quarter. First Trust Direct Indexing L.P. now owns 4,420 shares of the electronics maker's stock worth $370,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 58.56% of the company's stock.

Insider Buying and Selling

In related news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction dated Friday, February 9th. The stock was 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 directly owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 39.54% of the company's stock.

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 paid 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 yield of 1.50%. Dolby Laboratories's dividend payout ratio (DPR) 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.