Wall Street analysts expect Eastside Distilling Inc (NASDAQ:EAST) to post sales of $3.04 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Eastside Distilling’s earnings, with the lowest sales estimate coming in at $2.83 million and the highest estimate coming in at $3.25 million. Eastside Distilling posted sales of $1.22 million during the same quarter last year, which suggests a positive year over year growth rate of 149.2%. The business is scheduled to issue its next earnings report on Monday, May 13th.
On average, analysts expect that Eastside Distilling will report full-year sales of $16.51 million for the current financial year, with estimates ranging from $15.70 million to $17.32 million. For the next fiscal year, analysts anticipate that the firm will post sales of $22.30 million, with estimates ranging from $21.32 million to $23.27 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Eastside Distilling.
Eastside Distilling (NASDAQ:EAST) last released its earnings results on Thursday, March 28th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.19). The business had revenue of $1.89 million for the quarter, compared to analyst estimates of $2.00 million. Eastside Distilling had a negative net margin of 147.77% and a negative return on equity of 88.22%.
EAST traded down $0.21 on Friday, hitting $5.79. 398 shares of the company were exchanged, compared to its average volume of 35,079. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.90 and a quick ratio of 5.26. Eastside Distilling has a 12 month low of $5.49 and a 12 month high of $9.25. The firm has a market cap of $54.43 million, a price-to-earnings ratio of -3.93 and a beta of 0.30.
Several hedge funds have recently modified their holdings of the company. Quad Capital Management Advisors LLC grew its position in shares of Eastside Distilling by 516.8% in the 4th quarter. Quad Capital Management Advisors LLC now owns 275,246 shares of the company’s stock worth $1,701,000 after buying an additional 230,623 shares during the last quarter. Ashford Capital Management Inc. grew its position in shares of Eastside Distilling by 40.0% in the 4th quarter. Ashford Capital Management Inc. now owns 70,000 shares of the company’s stock worth $433,000 after buying an additional 20,000 shares during the last quarter. ARS Investment Partners LLC grew its position in shares of Eastside Distilling by 4.7% in the 4th quarter. ARS Investment Partners LLC now owns 282,823 shares of the company’s stock worth $1,748,000 after buying an additional 12,585 shares during the last quarter. Royce & Associates LP grew its position in shares of Eastside Distilling by 33.3% in the 4th quarter. Royce & Associates LP now owns 35,150 shares of the company’s stock worth $217,000 after buying an additional 8,780 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Eastside Distilling by 22.7% in the 4th quarter. BlackRock Inc. now owns 14,262 shares of the company’s stock worth $88,000 after buying an additional 2,635 shares during the last quarter. Hedge funds and other institutional investors own 25.68% 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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