Brokerages Set Sotheby’s (NYSE:BID) PT at $32.75
Sotheby’s (NYSE:BID) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company. Six research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $32.75.
BID has been the subject of a number of recent analyst reports. TheStreet raised Sotheby’s from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Zacks Investment Research raised Sotheby’s from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Cowen and Company set a $38.00 price target on Sotheby’s and gave the stock a “hold” rating in a report on Monday, September 19th.
Several hedge funds have recently bought and sold shares of BID. Quantbot Technologies LP boosted its stake in Sotheby’s by 119.8% in the second quarter. Quantbot Technologies LP now owns 3,800 shares of the company’s stock worth $104,000 after buying an additional 2,071 shares during the period. Envestnet Asset Management Inc. boosted its stake in Sotheby’s by 17.5% in the first quarter. Envestnet Asset Management Inc. now owns 4,017 shares of the company’s stock worth $107,000 after buying an additional 598 shares during the period. Invictus RG purchased a new stake in Sotheby’s during the first quarter worth approximately $125,000. Sei Investments Co. purchased a new stake in Sotheby’s during the second quarter worth approximately $161,000. Finally, Wright Investors Service Inc. boosted its stake in Sotheby’s by 2.1% in the second quarter. Wright Investors Service Inc. now owns 8,565 shares of the company’s stock worth $235,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 95.80% of the company’s stock.
Shares of Sotheby’s (NYSE:BID) opened at 37.19 on Monday. The stock has a 50 day moving average price of $39.08 and a 200-day moving average price of $31.19. The stock has a market cap of $2.05 billion, a P/E ratio of 71.80 and a beta of 2.25. Sotheby’s has a 52 week low of $18.86 and a 52 week high of $41.23.
Sotheby’s (NYSE:BID) last released its earnings results on Monday, August 8th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.46. The firm earned $298.67 million during the quarter, compared to analyst estimates of $291.22 million. Sotheby’s had a return on equity of 18.52% and a net margin of 3.87%. Sotheby’s’s revenue was down 10.0% compared to the same quarter last year. During the same period last year, the business posted $1.04 earnings per share. Equities analysts predict that Sotheby’s will post $2.12 EPS for the current fiscal year.
Sotheby’s is a global art business company. The Company operates in two segments: Agency and Finance. The Agency segment earns commissions by matching buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles (collectively, art or works of art or artwork or property) through the auction or private sale process.
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