Media coverage about Sothebys (NYSE:BID) has trended very positive this week, AlphaOne reports. The research firm, a unit of Accern, rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. AlphaOne ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Sothebys earned a daily sentiment score of 0.56 on AlphaOne’s scale. AlphaOne also assigned media stories about the specialty retailer an impact score of 100 out of 100, meaning that recent news coverage is extremely likely to have an impact on the company’s share price in the next several days.
These are some of the news articles that may have impacted AlphaOne’s analysis:
- Massive $71.2M diamond (eleganthomesinla.com)
- Ferrari LaFerrari, Porsche 918 Spyder and McLaren P1 GTR up for auction at RM Sotheby’s Villa Erba (4wheelsnews.com)
- [$$] Sotheby’s New Executive Marc Porter Returns to Rival Christie’s (finance.yahoo.com)
- Basquiat, Doig Paintings Are Headed for Artist Auction Records (finance.yahoo.com)
- [$$] Sotheby’s New Executive Returns to Rival Christie’s (finance.yahoo.com)
Several research analysts recently commented on BID shares. Zacks Investment Research lowered shares of Sothebys from a “buy” rating to a “hold” rating in a report on Tuesday, March 7th. Cowen and Company raised their price target on shares of Sothebys from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, March 16th. TheStreet upgraded shares of Sothebys from a “c+” rating to a “b-” rating in a report on Thursday, March 16th. Finally, Sidoti initiated coverage on shares of Sothebys in a research note on Thursday, December 29th. They set a “buy” rating on the stock.
Sothebys (NYSE:BID) traded up 2.37% during mid-day trading on Thursday, hitting $46.31. 151,333 shares of the stock were exchanged. The company has a market cap of $2.45 billion, a P/E ratio of 36.46 and a beta of 1.96. The company has a 50-day moving average price of $46.25 and a 200-day moving average price of $40.75. Sothebys has a one year low of $24.96 and a one year high of $49.87.
Sothebys (NYSE:BID) last issued its quarterly earnings data on Monday, February 27th. The specialty retailer reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.18. The business had revenue of $308.69 million for the quarter, compared to analyst estimates of $277.28 million. Sothebys had a positive return on equity of 16.53% and a negative net margin of 0.31%. Sothebys’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS. On average, analysts predict that Sothebys will post $1.98 earnings per share for the current fiscal year.
In related news, SVP Kevin M. Delaney sold 1,806 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $48.04, for a total transaction of $86,760.24. Following the sale, the senior vice president now owns 1,212 shares in the company, valued at approximately $58,224.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Olivier Reza acquired 10,000 shares of Sothebys stock in a transaction that occurred on Monday, March 6th. The shares were purchased at an average price of $48.04 per share, for a total transaction of $480,400.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $480,400. The disclosure for this purchase can be found here. Insiders own 11.98% of the company’s stock.
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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