Dolby Laboratories (NYSE:DLB – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.60-3.75 for the period, compared to the consensus EPS estimate of $2.77. The company issued revenue guidance of $1.3 billion, compared to the consensus revenue estimate of $1.30 billion. Dolby Laboratories also updated its Q3 guidance to $0.51-0.66 EPS.
Dolby Laboratories Trading Up 2.7 %
DLB stock traded up $2.13 during trading on Thursday, hitting $79.71. The company had a trading volume of 614,505 shares, compared to its average volume of 366,300. The business has a 50 day moving average of $81.61 and a 200 day moving average of $83.25. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 41.30 and a beta of 0.98. Dolby Laboratories has a fifty-two week low of $75.87 and a fifty-two week high of $91.01.
Dolby Laboratories (NYSE:DLB – Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.14. Dolby Laboratories had a return on equity of 10.21% and a net margin of 14.70%. The company had revenue of $315.57 million during the quarter, compared to the consensus estimate of $310.98 million. As a group, equities analysts predict that Dolby Laboratories will post 2.6 EPS for the current year.
Analysts Set New Price Targets
Check Out Our Latest Analysis on DLB
Insider Activity
In other Dolby Laboratories 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 transaction, the senior vice president now owns 108,519 shares in the company, valued at $8,769,420.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.
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