Zacks Research Has Negative Estimate for DLB Q4 Earnings

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

Separately, Barrington Research reissued an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 20th.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $73.27 on Monday. Dolby Laboratories has a one year low of $66.35 and a one year high of $90.06. The company has a market cap of $7.02 billion, a PE ratio of 37.38 and a beta of 0.97. The business has a 50-day simple moving average of $72.62 and a 200-day simple moving average of $76.96.

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

Dolby Laboratories announced that its board has approved a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Dolby Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Monday, August 19th. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

Insider Activity at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value 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 $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 SEC, which is available through this hyperlink. 39.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dolby Laboratories

Several large investors have recently modified their holdings of DLB. Mather Group LLC. acquired a new stake in shares of Dolby Laboratories in the first quarter valued at approximately $33,000. Blue Trust Inc. raised its stake in shares of Dolby Laboratories by 398.8% during the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 331 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Dolby Laboratories during the second quarter worth approximately $37,000. GAMMA Investing LLC raised its stake in shares of Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 192 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its stake in shares of Dolby Laboratories by 1,631.0% during the first 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 last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

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.