Sothebys (BID) Hits New 52-Week Low at $39.87

Sothebys (NYSE:BID)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $39.87 and last traded at $40.04, with a volume of 8323 shares changing hands. The stock had previously closed at $40.94.

Several equities analysts recently commented on the company. Zacks Investment Research lowered Sothebys from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. ValuEngine upgraded Sothebys from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Sothebys currently has a consensus rating of “Hold” and an average price target of $65.00.

The company has a market cap of $2.11 billion, a P/E ratio of 17.74 and a beta of 1.70. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 1.89.

Sothebys (NYSE:BID) last released its earnings results on Thursday, November 1st. The specialty retailer reported ($0.41) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.16. Sothebys had a return on equity of 21.41% and a net margin of 10.21%. The firm had revenue of $119.20 million during the quarter, compared to analyst estimates of $130.70 million. During the same period in the prior year, the firm posted ($0.45) earnings per share. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. As a group, research analysts expect that Sothebys will post 2.25 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. UBS Group AG grew its position in Sothebys by 50.1% during the first quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock valued at $147,000 after acquiring an additional 961 shares during the period. Radnor Capital Management LLC grew its position in Sothebys by 18.4% during the third quarter. Radnor Capital Management LLC now owns 8,880 shares of the specialty retailer’s stock valued at $437,000 after acquiring an additional 1,380 shares during the period. Capital Fund Management S.A. grew its position in Sothebys by 4.3% during the second quarter. Capital Fund Management S.A. now owns 46,478 shares of the specialty retailer’s stock valued at $2,526,000 after acquiring an additional 1,937 shares during the period. Smith Asset Management Group LP grew its position in Sothebys by 4.5% during the third quarter. Smith Asset Management Group LP now owns 51,041 shares of the specialty retailer’s stock valued at $2,511,000 after acquiring an additional 2,190 shares during the period. Finally, Trexquant Investment LP grew its position in Sothebys by 55.5% during the second quarter. Trexquant Investment LP now owns 8,503 shares of the specialty retailer’s stock valued at $462,000 after acquiring an additional 3,036 shares during the period.

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Sothebys Company Profile (NYSE:BID)

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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