Sotheby’s (NYSE:BID) Set to Announce Earnings on Thursday
Sotheby’s (NYSE:BID) will be posting its quarterly earnings results before the market opens on Thursday, August 3rd. Analysts expect Sotheby’s to post earnings of $1.38 per share for the quarter.
Sotheby’s (NYSE:BID) last issued its quarterly earnings data on Wednesday, May 10th. The specialty retailer reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.17. Sotheby’s had a return on equity of 20.73% and a net margin of 10.00%. The business had revenue of $187.50 million during the quarter, compared to analysts’ expectations of $111.66 million. During the same period in the previous year, the firm posted ($0.35) earnings per share. The company’s revenue was up 76.1% on a year-over-year basis. On average, analysts expect Sotheby’s to post $2.06 EPS for the current fiscal year and $2.68 EPS for the next fiscal year.
Shares of Sotheby’s (NYSE:BID) opened at 57.04 on Thursday. The stock has a 50 day moving average price of $54.05 and a 200-day moving average price of $47.62. The firm has a market capitalization of $3.00 billion, a PE ratio of 35.78 and a beta of 1.80. Sotheby’s has a 52 week low of $31.14 and a 52 week high of $57.67.
Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Sotheby’s from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. TheStreet cut shares of Sotheby’s from a “b-” rating to a “c” rating in a research report on Wednesday, May 10th. Finally, Sidoti reaffirmed a “buy” rating and set a $62.00 price target (up previously from $59.00) on shares of Sotheby’s in a research report on Friday, July 21st.
Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.
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