Sothebys (BID) Hits New 1-Year Low at $41.51

Sothebys (NYSE:BID)’s share price reached a new 52-week low on Thursday . The stock traded as low as $41.51 and last traded at $42.39, with a volume of 4307 shares trading hands. The stock had previously closed at $41.86.

A number of equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Zacks Investment Research downgraded shares of Sothebys from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Sothebys has an average rating of “Hold” and an average target price of $63.33.

The company has a market cap of $2.54 billion, a PE ratio of 19.13 and a beta of 1.66. The company has a current ratio of 1.23, a quick ratio of 1.21 and a debt-to-equity ratio of 1.17.

Sothebys (NYSE:BID) last released its quarterly earnings results on Monday, August 6th. The specialty retailer reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.46). The company had revenue of $345.60 million during the quarter, compared to analysts’ expectations of $330.28 million. Sothebys had a net margin of 10.11% and a return on equity of 20.32%. Sothebys’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.43 earnings per share. Analysts anticipate that Sothebys will post 2.24 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in BID. BlackRock Inc. raised its stake in shares of Sothebys by 6.7% in the 1st quarter. BlackRock Inc. now owns 4,185,419 shares of the specialty retailer’s stock valued at $214,752,000 after acquiring an additional 263,550 shares during the period. Principal Financial Group Inc. increased its stake in Sothebys by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 184,458 shares of the specialty retailer’s stock worth $9,465,000 after buying an additional 3,647 shares during the period. Profund Advisors LLC increased its stake in Sothebys by 17.3% during the 1st quarter. Profund Advisors LLC now owns 7,010 shares of the specialty retailer’s stock worth $360,000 after buying an additional 1,035 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in Sothebys by 56.1% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 7,622 shares of the specialty retailer’s stock worth $391,000 after buying an additional 2,740 shares during the period. Finally, UBS Group AG increased its stake in Sothebys by 50.1% during the 1st quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock worth $147,000 after buying an additional 961 shares during the period. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Sothebys Company Profile (NYSE:BID)

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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