Sothebys Receives Average Recommendation of “Buy” from Analysts (NYSE:BID)
Shares of Sothebys (NYSE:BID) have earned a consensus recommendation of “Buy” from the ten analysts that are presently covering the stock, AnalystRatingsNetwork.com reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $48.69.
Shares of Sothebys (NYSE:BID) opened at 40.75 on Wednesday. Sothebys has a 52 week low of $35.68 and a 52 week high of $54.00. The stock’s 50-day moving average is $39.80 and its 200-day moving average is $41.66. The company has a market cap of $2.811 billion and a P/E ratio of 21.43.
Sothebys (NYSE:BID) last posted its quarterly earnings results 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 in the previous year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts predict that Sothebys will post $1.96 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 0.99%. The ex-dividend date of this dividend is Thursday, August 28th.
A number of research firms have recently commented on BID. Analysts at Williams Capital upgraded shares of Sothebys from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 14th. They now have a $38.00 price target on the stock, up previously from $37.00. Separately, analysts at TheStreet upgraded shares of Sothebys to a “buy” rating in a research note on Tuesday, August 12th. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Sothebys in a research note on Monday, August 11th. They now have a $47.00 price target on the stock, down previously from $55.00.
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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