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Sotheby's 2008 Auction, Profit Estimates Cut by Stock Analyst

2016-01-13 14:24

Sotheby\'s auction sales and profit in 2008 may be lower than expected because of the \"slowing outlook\" for financial markets, said an analyst at Craig-Hallum Capital Group LLC. \r\n\r\nGeorge F. Sutton, the analyst, lowered his estimate for auction sales at Sotheby\'s to $5.02 billion, from $5.4 billion previously. He cut his earnings estimate for this year to $2.50 a share, from $3.09, he said in a report today. \r\n\r\nBoth revised numbers are below Sutton\'s estimates for 2007 results. Sotheby\'s is expected to report fourth-quarter and full- year results for 2007 in late February. \r\n\r\n\"As we take a sober look at the slowing outlook for the U.S. and other worldwide markets, we anticipate that high-end auctions may also take a breather,\" Sutton said in the report. \r\n\r\n

来源:雅昌艺术网 作者:Linda,Sandler

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