Standpoint Research Starts Sotheby's (BID) at Buy
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Sotheby's (BID) Prelim. Q4, FY15 adj.-EPS Outpaces Expectations; Eliminates Dividend
January 22, 2016 7:06 AM ESTSotheby's (NYSE: BID) disclosed the following on Friday:
Overview
For the fourth quarter of 2015, Sotheby's estimates that it will report a net loss of ($10) million to ($19) million (or ($0.15) to ($0.29) per diluted share), as compared to net income of $74 million (or $1.06 per diluted share) in the prior year. Adjusted Net Income* for the fourth quarter of 2015 is estimated to be $75 million to $79 million and Adjusted Diluted Earnings Per Share* is estimated to be $1.11 to $1.17, as compared to Adjusted Net Income* and Adjusted Diluted Earnings Per Share* of $78 million and $1.12,... More
