Sotheby’s to Post Q1 2017 Earnings of ($0.39) Per Share, Craig Hallum Forecasts (BID)
Sotheby’s (NYSE:BID) – Equities researchers at Craig Hallum issued their Q1 2017 earnings estimates for shares of Sotheby’s in a research report issued to clients and investors on Tuesday. Craig Hallum analyst G. Sutton anticipates that the firm will earn ($0.39) per share for the quarter. Craig Hallum also issued estimates for Sotheby’s’ Q2 2017 earnings at $1.46 EPS, Q3 2017 earnings at ($0.41) EPS and Q4 2017 earnings at $1.33 EPS.
Sotheby’s (NYSE:BID) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.62) by $0.16. The business had revenue of $91.49 million for the quarter, compared to the consensus estimate of $82.90 million. Sotheby’s had a positive return on equity of 15.60% and a negative net margin of 0.31%. Sotheby’s’s revenue was down 33.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.26) earnings per share.
Other equities analysts have also issued reports about the company. Cowen and Company set a $38.00 price objective on Sotheby’s and gave the stock a “hold” rating in a research note on Monday, September 19th. Zacks Investment Research raised Sotheby’s from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective on the stock in a research note on Wednesday, August 24th. Finally, TheStreet raised Sotheby’s from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.80.
Sotheby’s (NYSE:BID) opened at 35.38 on Wednesday. The company has a market capitalization of $1.95 billion, a PE ratio of 68.30 and a beta of 2.04. The stock’s 50 day moving average is $36.57 and its 200 day moving average is $33.27. Sotheby’s has a 52 week low of $18.86 and a 52 week high of $41.23.
Institutional investors have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Sotheby’s during the third quarter worth $9,195,000. Engineers Gate Manager LP purchased a new position in shares of Sotheby’s during the third quarter worth $2,377,000. SG Americas Securities LLC raised its position in shares of Sotheby’s by 385.0% in the third quarter. SG Americas Securities LLC now owns 77,731 shares of the company’s stock worth $2,955,000 after buying an additional 61,704 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Sotheby’s during the third quarter worth $1,930,000. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Sotheby’s by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 23,390 shares of the company’s stock worth $889,000 after buying an additional 330 shares during the last quarter. 97.19% of the stock is currently owned by institutional investors.
Sotheby’s Company Profile
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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