Sotheby’s Sets New 1-Year High at $48.93 (BID)
Sotheby’s (NYSE:BID) set a new 52-week high during trading on Thursday, StockRatingsNetwork.com reports. The stock traded as high as $48.93 and last traded at $48.85, with a volume of 965,131 shares. The stock had previously closed at $48.34.
A number of analysts have recently weighed in on BID shares. Analysts at Craig Hallum reiterated a “hold” rating on shares of Sotheby’s (NYSE:BID) in a research note to investors on Thursday. They now have a $38.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Sotheby’s (NYSE:BID) from $49.00 to $65.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, 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.
Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $42.37.
Sotheby’s has a 1-year low of $27.98 and a 1-year high of $48.93. The stock has a 50-day moving average of $45.27 and a 200-day moving average of $39.44. The company has a market cap of $3.336 billion and a P/E ratio of 32.44.
Sotheby’s (NYSE:BID) last posted its quarterly 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. Investors 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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