-$0.29 EPS Expected for Eastside Distilling Inc (EAST) This Quarter

Equities research analysts expect Eastside Distilling Inc (NASDAQ:EAST) to post earnings of ($0.29) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Eastside Distilling’s earnings, with the lowest EPS estimate coming in at ($0.36) and the highest estimate coming in at ($0.21). Eastside Distilling posted earnings of ($0.34) per share in the same quarter last year, which would indicate a positive year over year growth rate of 14.7%. The business is expected to issue its next earnings results on Tuesday, November 13th.

On average, analysts expect that Eastside Distilling will report full year earnings of ($1.21) per share for the current fiscal year. For the next financial year, analysts forecast that the business will post earnings of ($0.65) per share, with EPS estimates ranging from ($0.95) to ($0.35). Zacks’ EPS averages are an average based on a survey of research analysts that follow Eastside Distilling.

Eastside Distilling (NASDAQ:EAST) last announced its quarterly earnings data on Monday, August 13th. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.07). Eastside Distilling had a negative net margin of 130.79% and a negative return on equity of 118.61%. The firm had revenue of $1.52 million for the quarter, compared to analysts’ expectations of $1.43 million.

Separately, ValuEngine raised shares of Eastside Distilling from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd.

EAST stock traded down $0.10 during trading on Wednesday, hitting $8.30. 14,200 shares of the stock traded hands, compared to its average volume of 24,389. Eastside Distilling has a 1 year low of $3.53 and a 1 year high of $9.25. The company has a market capitalization of $55.41 million, a price-to-earnings ratio of -5.85 and a beta of 0.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.40 and a current ratio of 7.69.

In related news, Chairman Grover T. Wickersham sold 50,000 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $7.75, for a total transaction of $387,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steve Shum sold 11,604 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $7.52, for a total transaction of $87,262.08. The disclosure for this sale can be found here. Corporate insiders own 20.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Royce & Associates LP purchased a new stake in shares of Eastside Distilling during the 2nd quarter valued at about $144,000. Manatuck Hill Partners LLC boosted its holdings in shares of Eastside Distilling by 105.8% during the 2nd quarter. Manatuck Hill Partners LLC now owns 247,000 shares of the company’s stock valued at $2,100,000 after acquiring an additional 127,000 shares during the last quarter. Ashford Capital Management Inc. purchased a new stake in shares of Eastside Distilling during the 2nd quarter valued at about $425,000. Skylands Capital LLC boosted its holdings in shares of Eastside Distilling by 12.1% during the 3rd quarter. Skylands Capital LLC now owns 80,989 shares of the company’s stock valued at $664,000 after acquiring an additional 8,765 shares during the last quarter. Finally, Orca Investment Management LLC boosted its holdings in shares of Eastside Distilling by 118.8% during the 3rd quarter. Orca Investment Management LLC now owns 465,518 shares of the company’s stock valued at $3,817,000 after acquiring an additional 252,775 shares during the last quarter. 13.97% of the stock is currently owned by institutional investors.

Eastside Distilling Company Profile

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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