Sothebys Given Neutral Rating at Goldman Sachs (BID)
Sothebys (NYSE:BID) traded down 7.86% on Friday, hitting $37.49. The stock had a trading volume of 4,615,894 shares. Sothebys has a 1-year low of $35.68 and a 1-year high of $54.00. The stock’s 50-day moving average is $40.18 and its 200-day moving average is $42.71. The company has a market cap of $2.584 billion and a P/E ratio of 19.32.
Sothebys (NYSE:BID) last issued its quarterly earnings data on Friday, August 8th. The company reported $1.26 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.43 by $0.17. The company had revenue of $335.82 million for the quarter, compared to the consensus estimate of $345.63 million. During the same quarter in the prior year, the company posted $1.33 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts expect that Sothebys will post $2.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, August 28th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Sothebys from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 23rd. They now have a $40.80 price target on the stock. Separately, analysts at Barrington Research initiated coverage on shares of Sothebys in a research note on Tuesday, July 1st. They set an “outperform” rating and a $52.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Sothebys currently has an average rating of “Hold” and a consensus price target of $49.69.
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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