Sothebys Rating Reiterated by Citigroup Inc. (BID)
Sothebys (NYSE:BID)‘s stock had its “buy” rating restated by equities research analysts at Citigroup Inc. in a research note issued to investors on Monday. They currently have a $47.00 target price on the stock, down from their previous target price of $55.00. Citigroup Inc.’s price target would suggest a potential upside of 25.37% from the company’s current price.
Shares of Sothebys (NYSE:BID) traded up 0.69% on Monday, hitting $37.75. 776,699 shares of the company’s stock traded hands. Sothebys has a one year low of $35.68 and a one 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 $2.602 billion and a P/E ratio of 19.83. Sothebys also saw some unusual options trading activity on Friday. Stock traders acquired 10,427 put options on the company. This represents an increase of approximately 685% compared to the typical daily volume of 1,328 put options.
Sothebys (NYSE:BID) last released its earnings data on Friday, August 8th. The company reported $1.26 earnings per share (EPS) for the quarter, missing the 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 last year, the company posted $1.33 earnings per share. Sothebys’s revenue was up 10.1% compared to the same quarter last year. On average, analysts predict that Sothebys will post $2.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders 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 of this dividend is Thursday, August 28th.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs reiterated a “neutral” rating on shares of Sothebys in a research note on Friday. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $48.54.
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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