Barrington Research Comments on Dolby Laboratories, Inc.’s Q3 2024 Earnings (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB) – Investment analysts at Barrington Research lowered their Q3 2024 earnings per share estimates for shares of Dolby Laboratories in a research report issued on Monday, May 6th. Barrington Research analyst J. Goss now expects that the electronics maker will post earnings per share of $0.35 for the quarter, down from their previous estimate of $0.45. The consensus estimate for Dolby Laboratories’ current full-year earnings is $2.60 per share. Barrington Research also issued estimates for Dolby Laboratories’ Q4 2024 earnings at $0.52 EPS.

Several other research analysts have also recently commented on DLB. Rosenblatt Securities restated a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a research report on Monday, April 29th. StockNews.com lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 3rd.

Dolby Laboratories Price Performance

Shares of NYSE DLB opened at $82.79 on Thursday. The firm has a market capitalization of $7.91 billion, a PE ratio of 42.24 and a beta of 0.98. Dolby Laboratories has a 1-year low of $75.87 and a 1-year high of $91.01. The business’s fifty day moving average price is $81.75 and its two-hundred day moving average price is $83.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DLB. Blue Trust Inc. grew its holdings in Dolby Laboratories by 75.7% during the fourth quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 159 shares during the period. VisionPoint Advisory Group LLC grew its stake in shares of Dolby Laboratories by 86.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 172 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Dolby Laboratories in the 1st quarter worth approximately $33,000. Quarry LP acquired a new stake in Dolby Laboratories during the fourth quarter valued at approximately $37,000. Finally, Fifth Third Bancorp boosted its holdings in Dolby Laboratories by 175.3% during the third quarter. Fifth Third Bancorp now owns 446 shares of the electronics maker’s stock worth $35,000 after buying an additional 284 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be given a $0.30 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.45%. Dolby Laboratories’s dividend payout ratio is presently 61.22%.

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.