Brokerages Anticipate Eastside Distilling Inc (NASDAQ:EAST) Will Announce Earnings of -$0.19 Per Share

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Equities research analysts predict that Eastside Distilling Inc (NASDAQ:EAST) will post ($0.19) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Eastside Distilling’s earnings, with the highest EPS estimate coming in at ($0.17) and the lowest estimate coming in at ($0.20). Eastside Distilling reported earnings per share of ($0.37) in the same quarter last year, which indicates a positive year over year growth rate of 48.6%. The company is expected to issue its next earnings report on Monday, August 12th.

On average, analysts expect that Eastside Distilling will report full-year earnings of ($0.84) per share for the current financial year, with EPS estimates ranging from ($0.85) to ($0.82). For the next financial year, analysts anticipate that the firm will post earnings of ($0.31) per share, with EPS estimates ranging from ($0.46) to ($0.16). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Eastside Distilling.

Eastside Distilling (NASDAQ:EAST) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.14). The business had revenue of $3.50 million for the quarter, compared to the consensus estimate of $3.04 million. Eastside Distilling had a negative return on equity of 78.82% and a negative net margin of 127.06%.

Eastside Distilling stock traded up $0.07 during mid-day trading on Wednesday, reaching $4.50. 100 shares of the company’s stock were exchanged, compared to its average volume of 27,944. The business has a fifty day simple moving average of $4.50. The company has a market capitalization of $40.59 million, a price-to-earnings ratio of -2.97 and a beta of 0.58. Eastside Distilling has a one year low of $3.95 and a one year high of $8.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.88 and a quick ratio of 1.92.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Eastside Distilling by 22.7% during the fourth quarter. BlackRock Inc. now owns 14,262 shares of the company’s stock worth $88,000 after acquiring an additional 2,635 shares during the period. Royce & Associates LP lifted its holdings in Eastside Distilling by 19.9% during the first quarter. Royce & Associates LP now owns 42,150 shares of the company’s stock worth $245,000 after acquiring an additional 7,000 shares during the period. Connors Investor Services Inc. lifted its holdings in Eastside Distilling by 27.0% during the first quarter. Connors Investor Services Inc. now owns 56,536 shares of the company’s stock worth $328,000 after acquiring an additional 12,034 shares during the period. Ashford Capital Management Inc. lifted its holdings in Eastside Distilling by 40.0% during the fourth quarter. Ashford Capital Management Inc. now owns 70,000 shares of the company’s stock worth $433,000 after acquiring an additional 20,000 shares during the period. Finally, Skylands Capital LLC lifted its holdings in Eastside Distilling by 10.1% during the first quarter. Skylands Capital LLC now owns 227,700 shares of the company’s stock worth $1,323,000 after acquiring an additional 20,961 shares during the period. Institutional investors and hedge funds own 27.43% of the company’s stock.

About Eastside Distilling

Eastside Distilling, Inc develops, manufactures, produces, and markets hand-crafted spirits in the United States. The company offers bourbon under the Burnside West End Blend, Burnside Oregon Oaked Bourbon, and Burnside Goose Hollow RSV Bourbon brand names; premium whiskey under the Barrel Hitch American Whiskey brand names; distinctive whiskey under the Cherry Bomb Whiskey and Marionberry Whiskey brand names; rum under the Below Deck Silver Rum, Below Deck Spiced Rum, Below Deck Coffee Rum, and Below Deck Ginger Rum brand names; and vodka under the Portland Potato Vodka brand name.

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Earnings History and Estimates for Eastside Distilling (NASDAQ:EAST)

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