Wall Street brokerages forecast that Eastside Distilling Inc (NASDAQ:EAST) will post ($0.20) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Eastside Distilling’s earnings, with the highest EPS estimate coming in at ($0.17) and the lowest estimate coming in at ($0.22). Eastside Distilling reported earnings per share of ($0.37) during the same quarter last year, which suggests a positive year-over-year growth rate of 45.9%. The company is scheduled to issue its next earnings report on Monday, August 12th.
According to Zacks, analysts expect that Eastside Distilling will report full-year earnings of ($0.85) per share for the current financial year, with EPS estimates ranging from ($0.88) to ($0.82). For the next financial year, analysts forecast that the company will report earnings of ($0.31) per share, with EPS estimates ranging from ($0.46) to ($0.16). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Eastside Distilling.
Eastside Distilling (NASDAQ:EAST) last released 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%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EAST. Connors Investor Services Inc. grew its position in Eastside Distilling by 27.0% during the first quarter. Connors Investor Services Inc. now owns 56,536 shares of the company’s stock valued at $328,000 after buying an additional 12,034 shares during the period. Royce & Associates LP raised its stake in Eastside Distilling by 19.9% during the first quarter. Royce & Associates LP now owns 42,150 shares of the company’s stock valued at $245,000 after purchasing an additional 7,000 shares in the last quarter. ARS Investment Partners LLC raised its stake in Eastside Distilling by 36.5% during the first quarter. ARS Investment Partners LLC now owns 386,002 shares of the company’s stock valued at $2,243,000 after purchasing an additional 103,179 shares in the last quarter. Skylands Capital LLC raised its stake in Eastside Distilling by 10.1% during the first quarter. Skylands Capital LLC now owns 227,700 shares of the company’s stock valued at $1,323,000 after purchasing an additional 20,961 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Eastside Distilling by 22.7% during the fourth quarter. BlackRock Inc. now owns 14,262 shares of the company’s stock valued at $88,000 after purchasing an additional 2,635 shares in the last quarter. Institutional investors and hedge funds own 27.35% of the company’s stock.
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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