Sotheby’s (BID) Forecasted to Earn FY2017 Earnings of $2.00 Per Share
Sotheby’s (NYSE:BID) – Craig Hallum issued their FY2017 earnings estimates for shares of Sotheby’s in a report released on Tuesday. Craig Hallum analyst G. Sutton anticipates that the brokerage will post earnings of $2.00 per share for the year.
Sotheby’s (NYSE:BID) last released its earnings results on Monday, November 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by $0.16. Sotheby’s had a positive return on equity of 16.53% and a negative net margin of 0.31%. The business had revenue of $91.49 million for the quarter, compared to analysts’ expectations of $82.90 million. During the same quarter in the prior year, the business posted ($0.26) EPS. The business’s revenue for the quarter was down 33.7% compared to the same quarter last year.
BID has been the subject of a number of other research reports. Zacks Investment Research cut Sotheby’s from a “buy” rating to a “hold” rating in a research report on Thursday, October 20th. Cowen and Company reissued a “market perform” rating and issued a $36.00 price objective on shares of Sotheby’s in a report on Monday, October 31st. Finally, TheStreet raised Sotheby’s from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. Eight equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $31.80.
Sotheby’s (NYSE:BID) traded up 0.75% during mid-day trading on Thursday, hitting $36.34. The company had a trading volume of 783,577 shares. The company has a 50-day moving average price of $36.47 and a 200 day moving average price of $33.35. The firm has a market capitalization of $2.00 billion, a P/E ratio of 70.15 and a beta of 2.04. Sotheby’s has a 12 month low of $18.86 and a 12 month high of $41.23.
Several institutional investors have recently made changes to their positions in the stock. Vulcan Value Partners LLC acquired a new position in shares of Sotheby’s during the second quarter valued at $59,968,000. Alliancebernstein L.P. raised its position in shares of Sotheby’s by 128.1% in the second quarter. Alliancebernstein L.P. now owns 2,717,578 shares of the company’s stock valued at $74,462,000 after buying an additional 1,525,924 shares in the last quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd raised its position in shares of Sotheby’s by 88.3% in the second quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd now owns 2,188,301 shares of the company’s stock valued at $59,959,000 after buying an additional 1,026,228 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Sotheby’s during the third quarter valued at $33,961,000. Finally, Conestoga Capital Advisors LLC acquired a new position in shares of Sotheby’s during the second quarter valued at $10,036,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.
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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