Sotheby’s (BID) Getting Favorable News Coverage, AlphaOne Reports
News headlines about Sotheby’s (NYSE:BID) have trended positive recently, according to Alpha One. Alpha One, a service of Accern, rates the sentiment of press coverage by analyzing more than twenty million blog and news sources. Alpha One ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Sotheby’s earned a daily sentiment score of 0.46 on Alpha One’s scale. Alpha One also assigned media stories about the specialty retailer an impact score of 74 out of 100, indicating that recent press coverage is likely to have an effect on the company’s share price in the near future.
These are some of the news articles that may have effected AlphaOne’s scoring:
- A Classic 1963 Shelby 289 Cobra CXS 2075 (swaysuniverse.com)
- COWEN: We counted at least 7 retail companies that can’t get eaten up by Amazon (businessinsider.com)
- Jan Prasens Appointed Managing Director of Sotheby’s Europe, Including Operations in the Middle East, Russia, India and Africa (finance.yahoo.com)
- BRIEF-Sotheby’s says Jan Prasens appointed managing director of Sotheby’s Europe (feeds.reuters.com)
- Sothebys : Actual Size – A Curated Evening Sale (4-traders.com)
A number of research firms have weighed in on BID. Zacks Investment Research lowered shares of Sotheby’s from a “buy” rating to a “hold” rating in a research note on Tuesday, March 7th. TheStreet raised shares of Sotheby’s from a “c+” rating to a “b-” rating in a research note on Thursday, March 16th. Finally, Cowen and Company raised their target price on shares of Sotheby’s from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 28th.
Sotheby’s (NYSE BID) traded down 1.58% during mid-day trading on Tuesday, hitting $52.80. 214,829 shares of the stock traded hands. The stock’s 50 day moving average is $50.92 and its 200-day moving average is $44.89. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 33.12 and a beta of 1.81. Sotheby’s has a 12 month low of $25.88 and a 12 month high of $55.21.
Sotheby’s (NYSE:BID) last posted its quarterly earnings results on Wednesday, May 10th. The specialty retailer reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.17. The company had revenue of $187.50 million for the quarter, compared to the consensus estimate of $111.66 million. Sotheby’s had a net margin of 10.00% and a return on equity of 20.73%. Sotheby’s’s revenue was up 76.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) earnings per share. On average, equities research analysts anticipate that Sotheby’s will post $2.07 EPS for the current year.
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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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