Sotheby’s Price Target Increased to $65.00 by Analysts at Stifel Nicolaus (BID)
Equities research analysts at Stifel Nicolaus increased their price target on shares of Sotheby’s (NYSE:BID) from $49.00 to $65.00 in a research note issued to investors on Thursday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 33.17% from the company’s current price.
BID has been the subject of a number of other recent research reports. Analysts at Williams Capital raised their price target on shares of Sotheby’s (NYSE:BID) from $29.00 to $32.00 in a research note to investors on Monday, August 12th. They now have a “sell” rating on the stock. Separately, analysts at Craig Hallum downgraded shares of Sotheby’s (NYSE:BID) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, August 7th. They now have a $38.00 price target on the stock, down previously from $42.00. Finally, analysts at Zacks upgraded shares of Sotheby’s (NYSE:BID) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 10th. They now have a $41.20 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.37.
Shares of Sotheby’s (NYSE:BID) traded up 0.97% during mid-day trading on Thursday, hitting $48.81. The stock had a trading volume of 1,119,833 shares. Sotheby’s has a 52 week low of $27.98 and a 52 week high of $48.86. The stock’s 50-day moving average is $45.07 and its 200-day moving average is $39.38. The company has a market cap of $3.336 billion and a P/E ratio of 32.44.
Sotheby’s (NYSE:BID) last announced its earnings results on Tuesday, August 6th. The company reported $1.33 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.37 by $0.04. The company had revenue of $304.80 million for the quarter, compared to the consensus estimate of $318.14 million. During the same quarter in the prior year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Analysts expect that Sotheby’s will post $1.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.82%.
Sotheby’s is a global auctioneer of authenticated fine art, decorative art, and jewelry. The Company operates in three segments: Auction, Finance, and Dealer.
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