Sothebys (BID) Stock Price Up -0.6% After Better-Than-Expected Earnings
Sothebys (NYSE:BID) rose 0.6% on Friday following a stronger than expected earnings report. The stock traded as high as $53.01 and last traded at $50.50. Approximately 271,438 shares were traded during trading, a decline of 28% from the average daily volume of 376,412 shares. The stock had previously closed at $50.78.
The specialty retailer reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.07. The firm had revenue of $315.56 million during the quarter, compared to analyst estimates of $306.70 million. Sothebys had a return on equity of 23.38% and a net margin of 12.01%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.35 earnings per share.
BID has been the subject of several analyst reports. Zacks Investment Research upgraded Sothebys from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Monday, January 8th. TheStreet lowered Sothebys from a “b” rating to a “c+” rating in a research note on Monday, November 6th. Finally, Cowen reiterated a “buy” rating and issued a $63.00 target price on shares of Sothebys in a research note on Friday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Sothebys presently has a consensus rating of “Buy” and an average price target of $61.00.
The stock has a market cap of $2,680.00, a P/E ratio of 22.87 and a beta of 1.86. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 1.91.
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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.
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