Dolby Laboratories (NYSE:DLB) Releases Q4 Earnings Guidance

Dolby Laboratories (NYSE:DLB) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.31-0.46 for the period, compared to the consensus earnings per share estimate of $0.53. The company issued revenue guidance of $300-320 million, compared to the consensus revenue estimate of $326.60 million.

Dolby Laboratories Stock Down 0.5 %

Shares of NYSE DLB traded down $0.35 during midday trading on Wednesday, hitting $73.22. The stock had a trading volume of 816,647 shares, compared to its average volume of 383,782. The business’s 50 day moving average is $79.02 and its 200-day moving average is $80.69. Dolby Laboratories has a 52 week low of $73.14 and a 52 week high of $90.06. The company has a market cap of $7.02 billion, a P/E ratio of 37.54 and a beta of 0.99.

Analyst Upgrades and Downgrades

A number of analysts have commented on DLB shares. Barrington Research raised Dolby Laboratories from a market perform rating to an outperform rating and set a $100.00 target price for the company in a report on Monday, June 3rd. StockNews.com raised Dolby Laboratories from a hold rating to a buy rating in a research report on Saturday, May 11th. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $98.00 price target on shares of Dolby Laboratories in a report on Friday, June 7th.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $79.62, for a total value of $181,772.46. Following the transaction, the executive vice president now owns 58,325 shares of the company’s stock, valued at $4,643,836.50. The transaction was disclosed in a filing with the SEC, which can be accessed through 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.