NEW YORK (TheStreet) -- Shares of Sotheby's (BID) - Get Sotheby's Report were increasing in late-morning trading on Friday as the New York City-based art business company is expected to report second quarter results before Monday's market open.
Wall Street expects Sotheby's to post earnings of $1.05 per share on revenue of $291.22 million.
For the second quarter in 2015, the company reported earnings of $1.04 per share and $332.01 million in revenue.
Sotheby's said it has experienced a drop in revenue recently as a result of significant slows in the art market. Revenues were above average in 2015 due to record level sales of impressionist and contemporary art in London, Sotheby's noted.
However, the company reported a 22% increase in auction sales for the first half of 2016 in Sotheby's Asia, a season high total among international auction houses in the region.
Additionally, analysts are forecasting full-year earnings of $1.70 per share on revenue of $836.98 million.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate SOTHEBY'S as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: BID