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

Dolby Laboratories (NYSE:DLBGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.27-$3.77 for the period, compared to the consensus 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.

Several research firms recently issued reports on DLB. TheStreet raised Dolby Laboratories from a c+ rating to a b- rating in a research note on Friday, April 22nd. StockNews.com lowered Dolby Laboratories from a buy rating to a hold rating in a research note on Thursday. Zacks Investment Research raised Dolby Laboratories from a sell rating to a hold rating and set a $76.00 price target on the stock in a research report on Monday, March 7th. Finally, Barrington Research reduced their price target on Dolby Laboratories from $115.00 to $90.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $83.00.

NYSE:DLB traded down $0.18 during mid-day trading on Monday, reaching $75.06. 1,437 shares of the stock were exchanged, compared to its average volume of 551,526. The company has a 50 day simple moving average of $75.78 and a 200-day simple moving average of $82.55. Dolby Laboratories has a 1 year low of $69.18 and a 1 year high of $104.25. The stock has a market capitalization of $7.64 billion, a P/E ratio of 36.35, a P/E/G ratio of 1.80 and a beta of 0.99.

Dolby Laboratories (NYSE:DLBGet Rating) last announced its earnings results on Thursday, May 5th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.10. Dolby Laboratories had a return on equity of 9.72% and a net margin of 17.14%. The company had revenue of $334.37 million for the quarter, compared to the consensus estimate of $332.51 million. During the same period last year, the business posted $0.73 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts expect that Dolby Laboratories will post 2.62 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Shareholders of record on Tuesday, May 17th will be paid a $0.25 dividend. The ex-dividend date is Monday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.31%.

In other news, SVP John D. Couling sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $72.61, for a total value of $36,305.00. Following the completion of the sale, the senior vice president now directly owns 80,172 shares of the company’s stock, valued at approximately $5,821,288.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 37.06% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC raised its holdings in Dolby Laboratories by 44.0% during the third 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 raised its holdings in Dolby Laboratories by 18.7% during the fourth 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 position in Dolby Laboratories during the fourth quarter worth $122,000. 1832 Asset Management L.P. raised its holdings in Dolby Laboratories by 11.2% during the fourth quarter. 1832 Asset Management L.P. now owns 100,500 shares of the electronics maker’s stock worth $9,707,000 after purchasing an additional 10,100 shares during the last quarter. Finally, NEXT Financial Group Inc raised its holdings in Dolby Laboratories by 573.2% during the fourth quarter. NEXT Financial Group Inc now owns 929 shares of the electronics maker’s stock worth $88,000 after purchasing an additional 791 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

About Dolby Laboratories (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.

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

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