Wall Street brokerages expect Eastside Distilling Inc (NASDAQ:EAST) to post ($0.36) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Eastside Distilling’s earnings. Eastside Distilling reported earnings per share of ($0.34) in the same quarter last year, which suggests a negative year-over-year growth rate of 5.9%. The company is scheduled to issue its next earnings report on Tuesday, November 13th.
According to Zacks, analysts expect that Eastside Distilling will report full year earnings of ($1.24) per share for the current financial year. For the next year, analysts anticipate that the firm will post earnings of ($1.01) per share. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Eastside Distilling.
Eastside Distilling (NASDAQ:EAST) last posted its earnings results on Monday, August 13th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.07). The company had revenue of $1.52 million for the quarter, compared to the consensus estimate of $1.43 million. Eastside Distilling had a negative return on equity of 118.61% and a negative net margin of 130.79%.
Separately, ValuEngine raised shares of Eastside Distilling from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th.
In other Eastside Distilling news, major shareholder Glenbrook Capital Lp acquired 28,236 shares of Eastside Distilling stock in a transaction that occurred on Tuesday, June 26th. The shares were bought at an average price of $8.61 per share, with a total value of $243,111.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 20.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Royce & Associates LP bought a new stake in shares of Eastside Distilling in the second quarter worth $144,000. Ashford Capital Management Inc. bought a new stake in shares of Eastside Distilling in the second quarter worth $425,000. Finally, Manatuck Hill Partners LLC grew its stake in shares of Eastside Distilling by 105.8% in the second quarter. Manatuck Hill Partners LLC now owns 247,000 shares of the company’s stock worth $2,100,000 after purchasing an additional 127,000 shares during the last quarter. 11.50% of the stock is currently owned by institutional investors.
Shares of NASDAQ EAST traded up $0.09 during midday trading on Monday, reaching $7.68. 65,568 shares of the company were exchanged, compared to its average volume of 24,225. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.40 and a current ratio of 7.69. Eastside Distilling has a one year low of $3.53 and a one year high of $9.25. The stock has a market cap of $48.68 million, a PE ratio of -5.41 and a beta of 0.36.
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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