Dolby Laboratories (NYSE:DLB) Issues Q1 Earnings Guidance

Dolby Laboratories (NYSE:DLB) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.53-0.68 for the period, compared to the consensus EPS estimate of $0.84. The company issued revenue guidance of $330-360 million, compared to the consensus revenue estimate of $337.94 million. Dolby Laboratories also updated its FY25 guidance to $2.43-2.58 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 20th. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Dolby Laboratories Stock Performance

Shares of NYSE DLB traded down $0.44 during mid-day trading on Tuesday, reaching $70.91. The company had a trading volume of 385,415 shares, compared to its average volume of 396,072. The stock has a market capitalization of $6.76 billion, a PE ratio of 32.48 and a beta of 0.98. Dolby Laboratories has a twelve month low of $66.35 and a twelve month high of $90.06. The stock’s 50 day moving average is $73.66 and its 200-day moving average is $76.09.

Dolby Laboratories announced that its board has approved a stock repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $350.00 million in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the transaction, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,205,400.52. This represents a 25.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 39.54% 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.