Sothebys (BID) Downgraded by TheStreet to C

TheStreet downgraded shares of Sothebys (NYSE:BID) from a b rating to a c rating in a report released on Monday morning.

Other equities research analysts have also issued reports about the company. ValuEngine lowered Sothebys from a buy rating to a hold rating in a research report on Saturday, July 28th. Zacks Investment Research lowered Sothebys from a buy rating to a hold rating in a research report on Thursday, August 9th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $65.00.

BID stock opened at $39.82 on Monday. Sothebys has a 1-year low of $38.82 and a 1-year high of $60.16. The company has a market capitalization of $2.11 billion, a PE ratio of 17.70 and a beta of 1.70. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.17 and a current ratio of 1.24.

Sothebys (NYSE:BID) last released its quarterly earnings data on Thursday, November 1st. The specialty retailer reported ($0.41) earnings per share for the quarter, beating the 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 company had revenue of $119.20 million for the quarter, compared to analyst estimates of $130.70 million. During the same period in the prior year, the company posted ($0.45) EPS. The company’s revenue was down 33.8% compared to the same quarter last year. Analysts forecast that Sothebys will post 2.25 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG grew its position in Sothebys by 50.1% during the 1st quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock worth $147,000 after acquiring an additional 961 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Sothebys during the 2nd quarter worth approximately $176,000. North Star Investment Management Corp. bought a new stake in Sothebys during the 2nd quarter worth approximately $268,000. Raymond James & Associates bought a new stake in Sothebys during the 2nd quarter worth approximately $268,000. Finally, Xact Kapitalforvaltning AB bought a new stake in Sothebys during the 1st quarter worth approximately $315,000.

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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