Dolby Laboratories (NYSE:DLB) Updates FY 2022 Earnings Guidance

Dolby Laboratories (NYSE:DLBGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $3.27-$3.77 for the period, compared to the consensus earnings per share estimate of $3.80. The company issued revenue guidance of $1.30 billion-$1.35 billion, compared to the consensus revenue estimate of $1.37 billion.Dolby Laboratories also updated its Q3 2022 guidance to $0.54-$0.69 EPS.

Shares of DLB stock traded up $1.19 during mid-day trading on Monday, hitting $72.73. 7,116 shares of the stock traded hands, compared to its average volume of 551,534. The stock has a market cap of $7.41 billion, a P/E ratio of 34.56, a P/E/G ratio of 1.56 and a beta of 0.99. The stock’s fifty day moving average is $75.74 and its two-hundred day moving average is $83.14. Dolby Laboratories has a 52-week low of $69.18 and a 52-week high of $104.25.

Dolby Laboratories (NYSE:DLBGet Rating) last released its quarterly earnings results on Thursday, May 5th. The electronics maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.58 by $0.34. The business had revenue of $334.37 million during the quarter, compared to analyst estimates of $332.51 million. Dolby Laboratories had a net margin of 17.14% and a return on equity of 9.70%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 earnings per share. As a group, sell-side analysts expect that Dolby Laboratories will post 2.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 25th. Shareholders of record on Tuesday, May 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, May 16th. Dolby Laboratories’s payout ratio is 48.31%.

DLB has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Dolby Laboratories from a c+ rating to a b- rating in a research note on Friday, April 22nd. StockNews.com raised shares of Dolby Laboratories from a hold rating to a buy rating in a research report on Wednesday, May 4th. Finally, Zacks Investment Research raised shares of Dolby Laboratories from a sell rating to a hold rating and set a $76.00 price target for the company in a research report on Monday, March 7th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $95.00.

In other news, EVP Mark Andrew Sherman sold 1,798 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $77.23, for a total transaction of $138,859.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 37.06% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in DLB. Jane Street Group LLC boosted its stake in Dolby Laboratories by 44.0% during the 3rd quarter. Jane Street Group LLC now owns 13,047 shares of the electronics maker’s stock worth $1,148,000 after purchasing an additional 3,989 shares during the last quarter. Stifel Financial Corp boosted its stake in Dolby Laboratories by 18.7% during the 4th quarter. Stifel Financial Corp now owns 78,248 shares of the electronics maker’s stock worth $7,451,000 after purchasing an additional 12,338 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in Dolby Laboratories during the 4th quarter worth $122,000. 1832 Asset Management L.P. raised its holdings in shares of Dolby Laboratories by 11.2% during the 4th quarter. 1832 Asset Management L.P. now owns 100,500 shares of the electronics maker’s stock worth $9,707,000 after acquiring an additional 10,100 shares during the period. Finally, NEXT Financial Group Inc boosted its position in shares of Dolby Laboratories by 573.2% during the 4th quarter. NEXT Financial Group Inc now owns 929 shares of the electronics maker’s stock valued at $88,000 after acquiring an additional 791 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Company Profile (Get Rating)

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV, transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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, an digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.

Further Reading

Earnings History and Estimates for Dolby Laboratories (NYSE:DLB)

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