Dolby Laboratories (NYSE:DLB) Issues Q1 Earnings Guidance

Dolby Laboratories (NYSE:DLB) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.53-0.68 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

DLB has been the subject of several analyst reports. StockNews.com upgraded Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Monday. Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, September 20th.

Dolby Laboratories Trading Down 0.6 %

Shares of Dolby Laboratories stock traded down $0.44 during trading hours on Tuesday, reaching $70.91. The stock had a trading volume of 385,415 shares, compared to its average volume of 396,072. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $90.06. The firm has a 50 day simple moving average of $73.66 and a two-hundred day simple moving average of $76.09. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 32.38 and a beta of 0.98.

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

Insider Activity at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. This trade represents a 25.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 39.54% of the company’s stock.

About Dolby Laboratories

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.