Sothebys (NYSE:BID) Expected to Post Earnings of $1.60 Per Share

Wall Street analysts predict that Sothebys (NYSE:BID) will announce earnings of $1.60 per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Sothebys’ earnings. Sothebys reported earnings of $1.09 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 46.8%. The business is expected to issue its next earnings report on Monday, August 5th.

According to Zacks, analysts expect that Sothebys will report full year earnings of $2.63 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the business will report earnings of $2.65 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Sothebys.

Sothebys (NYSE:BID) last released its quarterly earnings data 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. The firm had revenue of $173.50 million during the quarter, compared to analyst estimates of $173.62 million. Sothebys had a return on equity of 24.25% and a net margin of 10.66%. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share.

A number of analysts have recently weighed in on the company. Berenberg Bank reissued a “hold” rating and set a $57.00 price objective on shares of Sothebys in a research note on Wednesday. ValuEngine raised Sothebys from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. TheStreet lowered Sothebys from a “b-” rating to a “c” rating in a research note on Wednesday, May 15th. Zacks Investment Research raised Sothebys from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Thursday, May 9th. Finally, Susquehanna Bancshares reissued a “hold” rating on shares of Sothebys in a research note on Thursday, February 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $48.75.

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Sothebys by 34.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,048 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 271 shares during the period. Quadrant Capital Group LLC lifted its stake in Sothebys by 339.6% in the first quarter. Quadrant Capital Group LLC now owns 1,609 shares of the specialty retailer’s stock worth $59,000 after acquiring an additional 1,243 shares during the period. Quantamental Technologies LLC purchased a new stake in Sothebys in the first quarter worth $75,000. SG Americas Securities LLC purchased a new stake in Sothebys in the first quarter worth $157,000. Finally, Dupont Capital Management Corp purchased a new stake in Sothebys in the fourth quarter worth $164,000.

NYSE:BID opened at $58.92 on Wednesday. The company has a market cap of $2.63 billion, a PE ratio of 24.90 and a beta of 1.46. Sothebys has a fifty-two week low of $32.01 and a fifty-two week high of $59.03. The company has a quick ratio of 1.11, a current ratio of 1.16 and a debt-to-equity ratio of 2.61.

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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