TheStreet Lowers Sothebys (BID) to C

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Sothebys (NYSE:BID) was downgraded by TheStreet from a “b” rating to a “c” rating in a research note issued on Monday.

Several other brokerages have also weighed in on BID. ValuEngine upgraded shares of Sothebys from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research lowered shares of Sothebys from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $65.00.

Shares of BID opened at $39.82 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.17 and a debt-to-equity ratio of 1.89. Sothebys has a twelve month low of $38.82 and a twelve month high of $60.16. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 17.70 and a beta of 1.70.

Sothebys (NYSE:BID) last issued its earnings results on Thursday, November 1st. The specialty retailer reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.16. Sothebys had a net margin of 10.21% and a return on equity of 21.41%. The company had revenue of $119.20 million for the quarter, compared to analyst estimates of $130.70 million. During the same period in the prior year, the business posted ($0.45) earnings per share. The firm’s revenue for the quarter was down 33.8% compared to the same quarter last year. Equities analysts anticipate that Sothebys will post 2.25 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in shares of Sothebys by 116.4% in the third quarter. SG Americas Securities LLC now owns 18,164 shares of the specialty retailer’s stock valued at $893,000 after purchasing an additional 9,772 shares in the last quarter. Smith Asset Management Group LP lifted its holdings in shares of Sothebys by 4.5% in the third quarter. Smith Asset Management Group LP now owns 51,041 shares of the specialty retailer’s stock valued at $2,511,000 after purchasing an additional 2,190 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Sothebys by 11.3% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,613,631 shares of the specialty retailer’s stock valued at $79,375,000 after purchasing an additional 163,631 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Sothebys in the third quarter valued at about $605,000. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Sothebys by 13.1% in the third quarter. Conestoga Capital Advisors LLC now owns 1,470,168 shares of the specialty retailer’s stock valued at $72,318,000 after purchasing an additional 170,700 shares in 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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