Eastside Distilling Inc (EAST) to Post Q2 2019 Earnings of ($0.17) Per Share, Zacks Investment Research Forecasts

Eastside Distilling Inc (NASDAQ:EAST) – Zacks Investment Research lowered their Q2 2019 earnings estimates for Eastside Distilling in a report issued on Monday, May 13th. Zacks Investment Research analyst I. Gilson now forecasts that the company will post earnings of ($0.17) per share for the quarter, down from their previous estimate of ($0.09). Zacks Investment Research also issued estimates for Eastside Distilling’s Q3 2019 earnings at ($0.17) EPS, Q4 2019 earnings at ($0.14) EPS, FY2019 earnings at ($0.82) EPS, Q2 2020 earnings at $0.00 EPS, Q3 2020 earnings at $0.00 EPS, Q4 2020 earnings at ($0.07) EPS and FY2020 earnings at ($0.16) EPS.

Eastside Distilling (NASDAQ:EAST) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.14). The business had revenue of $3.50 million for the quarter, compared to analyst estimates of $3.04 million. Eastside Distilling had a negative return on equity of 88.46% and a negative net margin of 127.06%.

Separately, ValuEngine cut Eastside Distilling from a “buy” rating to a “hold” rating in a report on Thursday, February 28th.

Shares of NASDAQ EAST opened at $5.22 on Thursday. The company has a market cap of $47.51 million, a price-to-earnings ratio of -3.50 and a beta of 0.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.26 and a current ratio of 9.90. Eastside Distilling has a twelve month low of $5.00 and a twelve month high of $9.25.

Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in Eastside Distilling by 22.7% during the fourth quarter. BlackRock Inc. now owns 14,262 shares of the company’s stock worth $88,000 after purchasing an additional 2,635 shares during the last quarter. Royce & Associates LP lifted its stake in Eastside Distilling by 33.3% during the fourth quarter. Royce & Associates LP now owns 35,150 shares of the company’s stock worth $217,000 after purchasing an additional 8,780 shares during the last quarter. Connors Investor Services Inc. lifted its stake in Eastside Distilling by 27.0% during the first quarter. Connors Investor Services Inc. now owns 56,536 shares of the company’s stock worth $328,000 after purchasing an additional 12,034 shares during the last quarter. Ashford Capital Management Inc. lifted its stake in Eastside Distilling by 40.0% during the fourth quarter. Ashford Capital Management Inc. now owns 70,000 shares of the company’s stock worth $433,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Vanguard Group Inc lifted its stake in Eastside Distilling by 160.3% during the third quarter. Vanguard Group Inc now owns 69,666 shares of the company’s stock worth $571,000 after purchasing an additional 42,901 shares during the last quarter. Institutional investors own 25.53% 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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Earnings History and Estimates for Eastside Distilling (NASDAQ:EAST)

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