Shares of Sothebys (NYSE:BID) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $59.33.
A number of equities analysts have weighed in on the company. Zacks Investment Research raised Sothebys from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Aegis assumed coverage on Sothebys in a research report on Monday, October 30th. They set a “buy” rating and a $60.00 price target on the stock. TheStreet downgraded Sothebys from a “b” rating to a “c+” rating in a research report on Monday, November 6th. Finally, Consumer Edge raised Sothebys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, October 4th.
Large investors have recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of Sothebys by 5.2% during the second quarter. US Bancorp DE now owns 2,615 shares of the specialty retailer’s stock worth $140,000 after acquiring an additional 129 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Sothebys during the second quarter worth approximately $172,000. Riverhead Capital Management LLC boosted its holdings in shares of Sothebys by 72.9% during the second quarter. Riverhead Capital Management LLC now owns 3,630 shares of the specialty retailer’s stock worth $195,000 after acquiring an additional 1,530 shares during the period. Turner Investments LLC bought a new stake in shares of Sothebys during the second quarter worth approximately $228,000. Finally, TrimTabs Asset Management LLC boosted its holdings in shares of Sothebys by 70.5% during the second quarter. TrimTabs Asset Management LLC now owns 4,843 shares of the specialty retailer’s stock worth $260,000 after acquiring an additional 2,002 shares during the period. Institutional investors own 92.00% of the company’s stock.
Sothebys (NYSE:BID) last announced its quarterly earnings results on Friday, November 3rd. The specialty retailer reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.23. The firm had revenue of $171.39 million for the quarter, compared to the consensus estimate of $101.14 million. Sothebys had a return on equity of 22.48% and a net margin of 10.95%. The business’s revenue was up 87.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.78) earnings per share. equities analysts forecast that Sothebys will post 2.14 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.com-unik.info/2017/12/21/sothebys-bid-receives-59-33-average-price-target-from-analysts.html.
Sothebys Company Profile
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.
Receive News & Ratings for Sothebys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sothebys and related companies with MarketBeat.com's FREE daily email newsletter.