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Last $40.57 USD
Change Today -0.09 / -0.22%
Volume 602.4K
BID On Other Exchanges
Symbol
Exchange
Berlin
As of 3:41 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

sotheby's (BID) Snapshot

Open
$40.70
Previous Close
$40.66
Day High
$41.12
Day Low
$40.36
52 Week High
06/26/15 - $47.28
52 Week Low
10/2/14 - $34.74
Market Cap
2.8B
Average Volume 10 Days
455.8K
EPS TTM
$2.20
Shares Outstanding
69.5M
EX-Date
05/28/15
P/E TM
18.4x
Dividend
$0.40
Dividend Yield
0.98%
Current Stock Chart for SOTHEBY'S (BID)

sotheby's (BID) Details

Sotheby’s, one of the oldest auction houses in the world, is an auctioneer of various properties including fine art, antiques, decorative art, jewelry, and collectibles. The New York company’s finance subsidiary offers certain collectors and dealers financing, primarily secured by works of art. It is also involved in licensing activities. Sotheby’s dealer segment sells works of art directly to private collectors and museums and acts as a broker in private purchases and sales of art. Sotheby’s, founded in 1744, operates principally in the U.S, Britain, and China.

1,550 Employees
Last Reported Date: 03/2/15
Founded in 1744

sotheby's (BID) Top Compensated Officers

Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $600.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $625.0K
Chief Executive Officer of Asia
Total Annual Compensation: $689.2K
Executive Vice President of Global Auction Tr...
Total Annual Compensation: $535.0K
Compensation as of Fiscal Year 2014.

sotheby's (BID) Key Developments

Sotheby's Announces Executive Changes, Effective August 31, 2015

Bruno Vinciguerra, who currently serves as Sotheby's Chief Operating Officer, will terminate employment with Sotheby's, effective August 31, 2015. Mr. Vinciguerra's responsibilities will be assumed by Tad Smith, Sotheby's Chief Executive Officer.

Sotheby's Announces Credit Agreement with General Electric Capital Corporation

Sotheby's and certain of its wholly-owned subsidiaries are party to a credit agreement with an international syndicate of lenders led by General Electric Capital Corporation, which provides for separate dedicated revolving credit facilities for Sotheby's Agency segment and its Finance segment. On June 15, 2015, the Credit Agreements were amended to increase the commitments thereunder in order to support the continued growth of the Finance segment's loan portfolio. Specifically, among other things, the amendment will: Increase the commitments of the Finance Credit Agreement from $550 million to approximately $1 billion. There was no increase to the commitments of the Agency Credit Agreement as a result of this amendment. As a result of the increase to the commitments of the Finance Credit Agreement, the aggregate commitments under the Credit Agreements will increase from $850 million to approximately $1.3 billion. Increase the accordion feature from $100 million to $150 million. Though new commitments would need to be obtained, the uncommitted accordion feature permits Sotheby's to increase the aggregate commitments of either or both of the Agency and Finance credit facilities by up to $150 million until February 23, 2020, which may result in an expedited arrangement process. Extend the scheduled maturity date of the Credit Agreements from August 22, 2019 to August 22, 2020. Extend the scheduled maturity date of the $50 million incremental revolving credit facility under the Agency Credit Agreement from August 21, 2015 to August 22, 2016, which maturity date may be extended for an additional 365 days on an annual basis with the consent of the lenders under such Incremental Facility who agree to extend their incremental commitments. Sotheby's incurred approximately $2.7 million in fees related to the amendment of the Credit Agreements, which will be amortized on a straight-line basis through the August 22, 2020 extended maturity date of the Credit Agreements.

Sotheby's Announces Executive Changes, Effective From June 30, 2015

Alfredo Gangotena, who currently serves as Sotheby's Chief Marketing Officer, will terminate employment with Sotheby's, effective from June 30, 2015. Mr. Gangotena's responsibilities will be assumed by Mr. David Goodman, Sotheby's newly appointed Executive Vice President of Digital Development and Marketing.

 

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Industry Analysis

BID

Industry Average

Valuation BID Industry Range
Price/Earnings 22.8x
Price/Sales 3.1x
Price/Book 3.4x
Price/Cash Flow 19.5x
TEV/Sales 1.6x
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