Wall Street analysts predict that Sothebys (NYSE:BID) will report earnings of $1.55 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Sothebys’ earnings. Sothebys posted earnings per share of $1.43 in the same quarter last year, which indicates a positive year-over-year growth rate of 8.4%. The company is scheduled to issue its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Sothebys will report full-year earnings of $2.81 per share for the current fiscal year, with EPS estimates ranging from $2.74 to $2.87. For the next fiscal year, analysts expect that the company will report earnings of $3.11 per share, with EPS estimates ranging from $3.08 to $3.14. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Sothebys.
Sothebys (NYSE:BID) last released its quarterly earnings data on Thursday, May 3rd. The specialty retailer reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $195.80 million for the quarter, compared to the consensus estimate of $141.00 million. During the same quarter in the previous year, the company posted ($0.12) EPS. The company’s revenue was down 1.8% compared to the same quarter last year.
A number of analysts have issued reports on the company. ValuEngine raised Sothebys from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. Sidoti downgraded Sothebys from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 12th. Zacks Investment Research raised Sothebys from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Friday, May 18th. TheStreet raised Sothebys from a “c+” rating to a “b-” rating in a research note on Monday, March 19th. Finally, Cowen lifted their price objective on Sothebys from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, March 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $63.00.
NYSE:BID opened at $54.34 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.19 and a current ratio of 1.25. Sothebys has a 1 year low of $42.78 and a 1 year high of $60.16. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 21.24 and a beta of 1.78.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BID. US Bancorp DE increased its position in shares of Sothebys by 55.4% during the 4th quarter. US Bancorp DE now owns 4,251 shares of the specialty retailer’s stock valued at $219,000 after purchasing an additional 1,516 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Sothebys during the 4th quarter valued at approximately $647,000. California Public Employees Retirement System increased its position in shares of Sothebys by 2.6% during the 4th quarter. California Public Employees Retirement System now owns 170,078 shares of the specialty retailer’s stock valued at $8,776,000 after purchasing an additional 4,292 shares during the last quarter. New Mexico Educational Retirement Board bought a new position in shares of Sothebys during the 4th quarter valued at approximately $479,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Sothebys by 8.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 89,845 shares of the specialty retailer’s stock valued at $4,635,000 after purchasing an additional 6,769 shares during the last quarter. 90.91% of the stock is currently owned by hedge funds and other institutional investors.
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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