News headlines about Sotheby’s (NYSE:BID) have trended somewhat positive recently, Accern Sentiment Analysis reports. Accern ranks the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Sotheby’s earned a media sentiment score of 0.22 on Accern’s scale. Accern also assigned headlines about the specialty retailer an impact score of 45.9387700826743 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:
- Sotheby’s December 2017 Contemporary Art Sales In Paris Total $51.1 Million (€43.1 Million) (finance.yahoo.com)
- Sotheby’s Holiday Sales Series A Life of Luxury Totals $117 Million in New York (prnewswire.com)
- Joseph Wright of Derby ‘candlelit’ painting makes record £6.3m at Sotheby’s (antiquestradegazette.com)
- Sotheby’s Prices $400 Million of Senior Notes Due 2025 (finance.yahoo.com)
- This Jaguar D-Type is what you should spend your multimillion-dollar holiday bonus on (finance.yahoo.com)
Sotheby’s (BID) opened at $50.86 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.62 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $2,646.15, a PE ratio of 23.77 and a beta of 1.86. Sotheby’s has a twelve month low of $38.32 and a twelve month high of $57.95.
Sotheby’s announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 15th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty retailer to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
BID has been the subject of several recent research reports. Zacks Investment Research raised Sotheby’s from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Consumer Edge raised Sotheby’s from a “neutral” rating to an “overweight” rating in a report on Wednesday, October 4th. TheStreet lowered Sotheby’s from a “b” rating to a “c+” rating in a report on Monday, November 6th. Finally, Aegis initiated coverage on Sotheby’s in a report on Monday, October 30th. They issued a “buy” rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.25.
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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