Wall Street brokerages predict that Eastside Distilling Inc (NASDAQ:EAST) will report $1.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Eastside Distilling’s earnings. The lowest sales estimate is $1.46 million and the highest is $1.62 million. Eastside Distilling posted sales of $900,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 71.1%. The business is scheduled to report its next earnings report on Tuesday, November 13th.
According to Zacks, analysts expect that Eastside Distilling will report full year sales of $6.36 million for the current fiscal year, with estimates ranging from $6.13 million to $6.59 million. For the next fiscal year, analysts anticipate that the business will report sales of $10.43 million, with estimates ranging from $9.01 million to $11.84 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Eastside Distilling.
Eastside Distilling (NASDAQ:EAST) last released its quarterly earnings data on Monday, August 13th. The company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.07). The company had revenue of $1.52 million for the quarter, compared to analyst estimates of $1.43 million. Eastside Distilling had a negative return on equity of 118.61% and a negative net margin of 130.79%.
In other Eastside Distilling news, Chairman Grover T. Wickersham sold 50,000 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $7.75, for a total transaction of $387,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steve Shum sold 11,604 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $7.52, for a total value of $87,262.08. The disclosure for this sale can be found here. Insiders own 20.80% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Orca Investment Management LLC raised its position in Eastside Distilling by 118.8% in the third quarter. Orca Investment Management LLC now owns 465,518 shares of the company’s stock valued at $3,817,000 after purchasing an additional 252,775 shares during the period. Manatuck Hill Partners LLC raised its position in Eastside Distilling by 105.8% in the second quarter. Manatuck Hill Partners LLC now owns 247,000 shares of the company’s stock valued at $2,100,000 after purchasing an additional 127,000 shares during the period. Skylands Capital LLC raised its position in Eastside Distilling by 12.1% in the third quarter. Skylands Capital LLC now owns 80,989 shares of the company’s stock valued at $664,000 after purchasing an additional 8,765 shares during the period. Ashford Capital Management Inc. purchased a new stake in Eastside Distilling in the second quarter valued at $425,000. Finally, Royce & Associates LP purchased a new stake in Eastside Distilling in the second quarter valued at $144,000. Institutional investors own 13.97% of the company’s stock.
NASDAQ EAST traded down $0.10 on Friday, reaching $8.30. 14,200 shares of the company were exchanged, compared to its average volume of 24,389. The firm has a market capitalization of $55.41 million, a P/E 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. Eastside Distilling has a fifty-two week low of $3.53 and a fifty-two week high of $9.25.
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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