Wall Street analysts expect Sothebys (NYSE:BID) to announce $1.44 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Sothebys’ earnings. Sothebys reported earnings of $1.47 per share in the same quarter last year, which indicates a negative year over year growth rate of 2%. The firm is scheduled 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 year, with EPS estimates ranging from $2.20 to $2.36. For the next fiscal year, analysts forecast that the business will post earnings of $2.73 per share, with EPS estimates ranging from $2.60 to $2.86. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Sothebys.
Sothebys (NYSE:BID) last released its quarterly earnings data on Thursday, November 1st. The specialty retailer reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.16. The business had revenue of $119.20 million during 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%. Sothebys’s revenue was down 33.8% compared to the same quarter last year. During the same period last year, the business earned ($0.45) EPS.
Several equities analysts have weighed in on BID shares. ValuEngine downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. TheStreet cut shares of Sothebys from a “b” rating to a “c” rating in a research report on Monday, November 5th. Sidoti upgraded shares of Sothebys from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, November 27th. Finally, Zacks Investment Research cut shares of Sothebys from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $60.00.
Shares of BID traded down $0.93 on Friday, reaching $39.99. The company’s stock had a trading volume of 738,931 shares, compared to its average volume of 476,507. The company has a current ratio of 1.24, a quick ratio of 1.17 and a debt-to-equity ratio of 1.89. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 17.77 and a beta of 1.70. Sothebys has a 12-month low of $37.66 and a 12-month high of $60.16.
In other Sothebys news, insider Jr. Thomas S. Smith purchased 15,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were bought at an average price of $40.96 per share, for a total transaction of $624,640.00. Following the acquisition, the insider now owns 119,725 shares in the company, valued at $4,903,936. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.81% of the company’s stock.
Several large investors have recently made changes to their positions in BID. UBS Group AG lifted its holdings in Sothebys by 50.1% in the 1st quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock valued at $147,000 after purchasing an additional 961 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Sothebys during the 3rd quarter valued at about $152,000. Acadian Asset Management LLC purchased a new position in Sothebys during the 2nd quarter valued at about $176,000. Zeke Capital Advisors LLC purchased a new position in shares of Sothebys in the 3rd quarter valued at about $208,000. Finally, Commonwealth Bank of Australia purchased a new position in shares of Sothebys in the 3rd quarter valued at about $226,000.
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.
Recommended Story: Google Finance Portfolio
Get a free copy of the Zacks research report on Sothebys (BID)
For more information about research offerings from Zacks Investment Research, visit Zacks.com