Sothebys (BID) Expected to Announce Earnings of $1.44 Per Share

Wall Street analysts forecast that Sothebys (NYSE:BID) will post earnings of $1.44 per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Sothebys’ earnings. Sothebys posted earnings per share of $1.47 in the same quarter last year, which would indicate a negative year over year growth rate of 2%. The business is expected to report its next quarterly earnings report on Thursday, March 7th.

On average, analysts expect that Sothebys will report full year earnings of $2.28 per share for the current financial year, with EPS estimates ranging from $2.20 to $2.36. For the next financial year, analysts expect that the company will report earnings of $2.73 per share, with EPS estimates ranging from $2.60 to $2.86. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Sothebys.

Sothebys (NYSE:BID) last released its quarterly earnings data on Thursday, November 1st. The specialty retailer reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.16. The business had revenue of $119.20 million for the quarter, compared to analyst estimates of $130.70 million. Sothebys had a net margin of 10.21% and a return on equity of 21.41%. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.45) EPS.

A number of research firms have recently commented on BID. Sidoti raised shares of Sothebys from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday. TheStreet downgraded shares of Sothebys from a “b” rating to a “c” rating in a research report on Monday, November 5th. Zacks Investment Research downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. Finally, ValuEngine downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $60.00.

Shares of NYSE BID traded down $0.86 on Friday, reaching $40.06. 45,361 shares of the company traded hands, compared to its average volume of 492,028. Sothebys has a fifty-two week low of $37.66 and a fifty-two week high of $60.16. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.24 and a quick ratio of 1.17. The company has a market cap of $2.01 billion, a P/E ratio of 17.78 and a beta of 1.70.

In other Sothebys news, insider Jr. Thomas S. Smith bought 15,250 shares of Sothebys stock in a transaction dated Wednesday, November 28th. The stock was bought at an average cost of $40.96 per share, for a total transaction of $624,640.00. Following the purchase, the insider now owns 119,725 shares in the company, valued at approximately $4,903,936. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 13.81% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in shares of Sothebys by 50.1% during the 1st quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock valued at $147,000 after buying an additional 961 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Sothebys by 26.6% during the 3rd quarter. Riverhead Capital Management LLC now owns 6,187 shares of the specialty retailer’s stock valued at $304,000 after buying an additional 1,300 shares during the last quarter. Radnor Capital Management LLC boosted its stake in shares of Sothebys by 18.4% during the 3rd quarter. Radnor Capital Management LLC now owns 8,880 shares of the specialty retailer’s stock valued at $437,000 after buying an additional 1,380 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Sothebys by 16.7% during the 3rd quarter. Pacer Advisors Inc. now owns 13,221 shares of the specialty retailer’s stock valued at $650,000 after buying an additional 1,894 shares during the last quarter. Finally, Capital Fund Management S.A. boosted its stake in shares of Sothebys by 4.3% during the 2nd quarter. Capital Fund Management S.A. now owns 46,478 shares of the specialty retailer’s stock valued at $2,526,000 after buying an additional 1,937 shares during the last quarter.

About Sothebys

Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.

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