Sotheby’s Second Quarter Earnings Sneak Peek

Sotheby’s (NYSE:BID) will unveil its latest earnings on Monday, November 7, 2011. Sothebys is an auctioneer of authenticated fine art, antiques and decorative art, jewelry, and collectibles.

Sotheby’s Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net loss of 35 cents per share, a wider loss from the year earlier quarter net loss of 29 cents. During the past three months, the average estimate has moved down from a loss of 32 cents. Between one and three months ago, the average estimate moved down. It also has dropped from a loss of 34 cents during the last month. For the year, analysts are projecting profit of $2.99 per share, a rise of 27.8% from last year.

Past Earnings Performance: Last quarter, the company topped estimates by 0 cents, coming in at net income of $1.83 per share against a mean estimate of profit of $1.57. The company fell in line with estimates in the fourth quarter of the last fiscal year.

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Wall St. Revenue Expectations: On average, analysts predict $77 million in revenue this quarter, a rise of 5.5% from the year ago quarter. Analysts are forecasting total revenue of $897.9 million for the year, a rise of 16% from last year’s revenue of $774.3 million.

Analyst Ratings: Analysts are bullish on this stock with five analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

A Look Back: In the first quarter, the company swung to a profit of $2.4 million (3 cents a share) from a loss of $2.2 million (3 cents) a year earlier, beating analyst estimates. Revenue rose 17.4% to $119.6 million from $101.9 million.

Key Stats: Revenue has gone up for three straight quarters. It rose 39.8% in the fourth quarter of the last fiscal year from the year earlier and 74.3% in the third quarter of the last fiscal year.

Competitors to Watch: Jones Lang LaSalle (NYSE:JLL), CB Richard Ellis (NYSE:CBG), Duke Realty (NYSE:DRE), SL Green (NYSE:SLG), Vornado (NYSE:VNO) and Boston Properties (NYSE:BXP).

Stock Price Performance: During October 4, 2011 to November 1, 2011, the stock price had risen $5.65 (19.8%) from $28.52 to $34.17. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 7, 2011 when shares rose for nine-straight days, rising 18.5% (+$7.46) over that span. It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight-straight days, falling 12.4% (-$5.60) over that span. Shares are down $10.67 (-23.8%) year to date.

(Source: Xignite Financials)

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