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Sotheby’s Fourth Quarter Earnings Sneak Peek

Sotheby’s will unveil its latest earnings on Wednesday, February 29, 2012. 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 analyst estimate is for profit of $1.23 per share, a decline of 10.9% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from $1.41. Between one and three months ago, the average estimate moved down. It has been unchanged at $1.23 during the last month. Analysts are projecting profit to rise by 15% compared to last year’s $2.69.

Past Earnings Performance: The company is looking to make a streak of three quarters of beating estimates. Last quarter, it beat expectations by reporting net loss of 30 cents per share, and the previous quarter, it had net income of $1.83.

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Wall St. Revenue Expectations: Analysts predict a decline of 6.2% in revenue from the year-earlier quarter to $298.4 million.

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

A Look Back: In the third quarter, the company’s loss widened to a loss of a $29.7 million (44 cents a share) from a loss of $19.4 million (29 cents) a year earlier, but beat analyst expectations. Revenue fell 20.3% to $58.2 million from $73.1 million.

Stock Price Performance: Between November 25, 2011 and February 23, 2012, the stock price rose $12.38 (46.8%), from $26.48 to $38.86. 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, increasing 18.5% (+$7.44) over that span. It saw one of its worst periods between November 11, 2011 and November 25, 2011 when shares fell for 10 straight days, dropping 19.6% (-$6.47) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com