Wall Street brokerages expect Eastside Distilling Inc (NASDAQ:EAST) to post earnings of ($0.23) per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Eastside Distilling’s earnings, with the lowest EPS estimate coming in at ($0.29) and the highest estimate coming in at ($0.16). Eastside Distilling posted earnings per share of ($0.34) during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.4%. The company is expected to announce its next earnings report before the market opens on Thursday, March 28th.
According to Zacks, analysts expect that Eastside Distilling will report full year earnings of ($1.26) per share for the current fiscal year, with EPS estimates ranging from ($1.34) to ($1.17). For the next financial year, analysts expect that the business will post earnings of ($0.66) per share, with EPS estimates ranging from ($0.88) to ($0.44). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Eastside Distilling.
Separately, ValuEngine cut shares of Eastside Distilling from a “buy” rating to a “hold” rating in a report on Thursday, February 28th.
A number of hedge funds have recently added to or reduced their stakes in EAST. Quad Capital Management Advisors LLC boosted its holdings in Eastside Distilling by 516.8% during the fourth quarter. Quad Capital Management Advisors LLC now owns 275,246 shares of the company’s stock valued at $1,701,000 after acquiring an additional 230,623 shares during the period. ARS Investment Partners LLC boosted its holdings in Eastside Distilling by 360.7% during the third quarter. ARS Investment Partners LLC now owns 270,238 shares of the company’s stock valued at $2,216,000 after acquiring an additional 211,586 shares during the period. Orca Investment Management LLC boosted its holdings in Eastside Distilling by 33.4% during the fourth quarter. Orca Investment Management LLC now owns 621,171 shares of the company’s stock valued at $3,839,000 after acquiring an additional 155,653 shares during the period. Skylands Capital LLC boosted its holdings in Eastside Distilling by 155.3% during the fourth quarter. Skylands Capital LLC now owns 206,739 shares of the company’s stock valued at $1,278,000 after acquiring an additional 125,750 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in Eastside Distilling by 586.9% during the fourth quarter. FNY Investment Advisers LLC now owns 113,201 shares of the company’s stock valued at $699,000 after acquiring an additional 96,722 shares during the period. Institutional investors own 31.97% of the company’s stock.
NASDAQ:EAST traded up $0.01 during trading hours on Monday, reaching $5.94. The company’s stock had a trading volume of 62,391 shares, compared to its average volume of 39,486. Eastside Distilling has a one year low of $5.50 and a one year high of $9.25. The company has a current ratio of 9.78, a quick ratio of 3.65 and a debt-to-equity ratio of 0.15.
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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