$5.93 Million in Sales Expected for Eastside Distilling Inc (NASDAQ:EAST) This Quarter
Posted by Ken Giver on Jan 17th, 2020
Equities research analysts expect Eastside Distilling Inc (NASDAQ:EAST) to announce $5.93 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Eastside Distilling’s earnings, with the highest sales estimate coming in at $6.40 million and the lowest estimate coming in at $5.46 million. Eastside Distilling reported sales of $1.89 million during the same quarter last year, which indicates a positive year-over-year growth rate of 213.8%. The company is scheduled to announce its next earnings results on Thursday, March 26th.
According to Zacks, analysts expect that Eastside Distilling will report full year sales of $17.76 million for the current financial year, with estimates ranging from $17.29 million to $18.23 million. For the next fiscal year, analysts anticipate that the business will report sales of $26.47 million, with estimates ranging from $25.71 million to $27.22 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Eastside Distilling.
Eastside Distilling (NASDAQ:EAST) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.14). The firm had revenue of $4.43 million for the quarter, compared to the consensus estimate of $4.57 million. Eastside Distilling had a negative net margin of 90.06% and a negative return on equity of 76.50%.
Separately, ValuEngine upgraded shares of Eastside Distilling from a “hold” rating to a “buy” rating in a report on Friday, January 3rd.
Shares of NASDAQ EAST opened at $3.17 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 4.00. The company has a market cap of $30.14 million, a P/E ratio of -2.13 and a beta of 0.24. The firm’s fifty day moving average is $3.08 and its two-hundred day moving average is $4.12. Eastside Distilling has a 52-week low of $2.51 and a 52-week high of $6.60.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Penbrook Management LLC bought a new stake in Eastside Distilling in the 3rd quarter valued at $600,000. Connors Investor Services Inc. increased its holdings in Eastside Distilling by 13.6% in the 3rd quarter. Connors Investor Services Inc. now owns 70,936 shares of the company’s stock valued at $347,000 after acquiring an additional 8,500 shares during the last quarter. BlackRock Inc. increased its holdings in Eastside Distilling by 27.4% in the 2nd quarter. BlackRock Inc. now owns 22,344 shares of the company’s stock valued at $101,000 after acquiring an additional 4,810 shares during the last quarter. Citadel Advisors LLC bought a new stake in Eastside Distilling in the 2nd quarter valued at $48,000. Finally, First Wilshire Securities Management Inc. bought a new stake in Eastside Distilling in the 2nd quarter valued at $45,000. Institutional investors own 40.35% 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.
