Shares of Sothebys (NYSE:BID) have earned an average rating of “Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $63.33.
BID has been the topic of several recent analyst reports. Zacks Investment Research upgraded Sothebys from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Monday, April 2nd. Sidoti downgraded Sothebys from a “buy” rating to a “neutral” rating in a research report on Tuesday. ValuEngine downgraded Sothebys from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 2nd. Cowen reiterated a “buy” rating and set a $63.00 target price on shares of Sothebys in a research report on Friday, March 2nd. Finally, TheStreet upgraded Sothebys from a “c+” rating to a “b-” rating in a research report on Monday, March 19th.
NYSE BID opened at $58.06 on Monday. Sothebys has a twelve month low of $42.78 and a twelve month high of $60.16. The stock has a market cap of $3.09 billion, a P/E ratio of 25.80 and a beta of 1.78. The company has a current ratio of 1.25, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21.
Sothebys (NYSE:BID) last released its earnings results on Thursday, May 3rd. The specialty retailer reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.30. Sothebys had a return on equity of 24.21% and a net margin of 12.39%. The firm had revenue of $195.80 million for the quarter, compared to the consensus estimate of $141.00 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. equities analysts anticipate that Sothebys will post 2.76 EPS for the current year.
Sothebys declared that its board has approved a share repurchase program on Thursday, March 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors have recently added to or reduced their stakes in BID. UBS Group AG raised its holdings in shares of Sothebys by 50.1% in the 1st quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock worth $147,000 after purchasing an additional 961 shares during the period. Eaton Vance Management purchased a new position in shares of Sothebys in the 4th quarter worth about $207,000. US Bancorp DE raised its holdings in shares of Sothebys by 55.4% in the 4th quarter. US Bancorp DE now owns 4,251 shares of the specialty retailer’s stock worth $219,000 after purchasing an additional 1,516 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Sothebys by 43.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,280 shares of the specialty retailer’s stock worth $221,000 after purchasing an additional 1,292 shares during the period. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in shares of Sothebys in the 4th quarter worth about $233,000. Institutional investors own 92.36% of the company’s stock.
Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.
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