Shares of Sothebys (NYSE:BID) have been given an average rating of “Hold” by the seven brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $44.25.
Several research analysts have recently commented on the company. Zacks Investment Research raised Sothebys from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Wednesday, April 10th. TheStreet downgraded Sothebys from a “b-” rating to a “c” rating in a research note on Wednesday, May 15th. Berenberg Bank assumed coverage on Sothebys in a research note on Wednesday, February 13th. They issued a “hold” rating and a $39.00 price objective on the stock. Susquehanna Bancshares reaffirmed a “hold” rating on shares of Sothebys in a research note on Thursday, February 28th. Finally, Cowen downgraded Sothebys from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $50.00 to $44.00 in a research note on Thursday, January 24th.
In other news, SVP Kevin M. Delaney sold 2,921 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $40.54, for a total value of $118,417.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 16.03% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of Sothebys by 34.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,048 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 271 shares in the last quarter. BB&T Corp grew its position in shares of Sothebys by 9.2% during the fourth quarter. BB&T Corp now owns 6,205 shares of the specialty retailer’s stock worth $247,000 after purchasing an additional 525 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Sothebys by 3.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 20,779 shares of the specialty retailer’s stock worth $826,000 after purchasing an additional 736 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Sothebys by 9.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,000 shares of the specialty retailer’s stock worth $358,000 after purchasing an additional 800 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its position in shares of Sothebys by 14.9% during the first quarter. OppenheimerFunds Inc. now owns 6,915 shares of the specialty retailer’s stock worth $261,000 after purchasing an additional 898 shares in the last quarter.
BID stock opened at $37.39 on Friday. Sothebys has a fifty-two week low of $35.62 and a fifty-two week high of $60.16. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.11 and a current ratio of 1.16. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 15.08 and a beta of 1.32.
Sothebys (NYSE:BID) last posted its earnings results on Thursday, May 2nd. The specialty retailer reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.09. Sothebys had a return on equity of 24.25% and a net margin of 10.66%. The company had revenue of $173.50 million for the quarter, compared to the consensus estimate of $173.62 million. During the same quarter in the prior year, the company earned $0.09 earnings per share. Sothebys’s revenue was down 11.4% on a year-over-year basis. On average, equities analysts predict that Sothebys will post 2.63 earnings per share for the current year.
Sothebys Company Profile
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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