Analysts predict that Sothebys (NYSE:BID) will report earnings per share of $1.34 for the current quarter, Zacks reports. Zero analysts have made estimates for Sothebys’ earnings. Sothebys posted earnings of $1.35 per share in the same quarter last year, which would suggest a negative year over year growth rate of 0.7%. The business is expected to issue its next quarterly earnings results on Monday, February 26th.
On average, analysts expect that Sothebys will report full year earnings of $2.17 per share for the current fiscal year, with EPS estimates ranging from $2.12 to $2.22. For the next fiscal year, analysts forecast that the firm will post earnings of $2.44 per share, with EPS estimates ranging from $2.40 to $2.48. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Sothebys.
Sothebys (NYSE:BID) last announced its quarterly earnings data on Friday, November 3rd. The specialty retailer reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.23. Sothebys had a net margin of 10.95% and a return on equity of 22.48%. The business had revenue of $171.39 million during the quarter, compared to analysts’ expectations of $101.14 million. During the same period in the previous year, the business posted ($0.78) EPS. The business’s quarterly revenue was up 87.3% compared to the same quarter last year.
BID has been the subject of several research reports. Zacks Investment Research upgraded shares of Sothebys from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Consumer Edge upgraded shares of Sothebys from a “neutral” rating to an “overweight” rating in a research note on Wednesday, October 4th. TheStreet cut shares of Sothebys from a “b” rating to a “c+” rating in a research note on Monday, November 6th. Finally, Aegis initiated coverage on shares of Sothebys in a research note on Monday, October 30th. They set a “buy” rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $59.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new position in shares of Sothebys in the 2nd quarter valued at $1,004,000. First Trust Advisors LP acquired a new position in shares of Sothebys in the 2nd quarter valued at $2,176,000. Bank of New York Mellon Corp lifted its stake in shares of Sothebys by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 594,804 shares of the specialty retailer’s stock valued at $31,924,000 after purchasing an additional 52,543 shares during the period. Legal & General Group Plc lifted its stake in shares of Sothebys by 7.6% in the 2nd quarter. Legal & General Group Plc now owns 56,894 shares of the specialty retailer’s stock valued at $3,050,000 after purchasing an additional 4,006 shares during the period. Finally, Federated Investors Inc. PA lifted its stake in shares of Sothebys by 35.7% in the 2nd quarter. Federated Investors Inc. PA now owns 30,285 shares of the specialty retailer’s stock valued at $1,625,000 after purchasing an additional 7,974 shares during the period. Institutional investors and hedge funds own 92.00% of the company’s stock.
Shares of Sothebys (NYSE:BID) traded down $0.23 during midday trading on Friday, reaching $51.25. 156,105 shares of the company’s stock traded hands, compared to its average volume of 301,182. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.62 and a current ratio of 1.73. Sothebys has a twelve month low of $38.63 and a twelve month high of $57.95. The firm has a market cap of $2,690.00, a PE ratio of 25.88 and a beta of 1.87.
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Sothebys Company Profile
Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.
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