Sothebys Upgraded to “Market Perform” by Williams Capital (BID)
Sothebys (NYSE:BID) was upgraded by equities research analysts at Williams Capital from an “underperform” rating to a “market perform” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at TheStreet upgraded shares of Sothebys to a “buy” rating in a research note on Tuesday. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Sothebys in a research note on Monday. They now have a $47.00 price target on the stock, down previously from $55.00. Finally, analysts at Goldman Sachs reiterated a “neutral” rating on shares of Sothebys in a research note on Friday, August 8th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $50.47.
Sothebys (NYSE:BID) opened at 38.15 on Thursday. Sothebys has a 52 week low of $35.68 and a 52 week high of $54.00. The stock has a 50-day moving average of $39.96 and a 200-day moving average of $42.38. The company has a market cap of $2.632 billion and a P/E ratio of 19.79.
Sothebys (NYSE:BID) last announced its earnings results on Friday, August 8th. The company reported $1.26 earnings per share for the quarter, missing the analysts’ 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 $2.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, August 28th.
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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