Zacks Investment Research Weighs in on Eastside Distilling Inc’s Q2 2019 Earnings (EAST)

Eastside Distilling Inc (NASDAQ:EAST) – Equities researchers at Zacks Investment Research dropped their Q2 2019 EPS estimates for Eastside Distilling in a note issued to investors on Monday, May 13th. Zacks Investment Research analyst I. Gilson now forecasts that the company will post earnings per share of ($0.17) 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 released its earnings results on Monday, May 13th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.14). The company had revenue of $3.50 million for the quarter, compared to analyst estimates of $3.04 million. Eastside Distilling had a negative net margin of 127.06% and a negative return on equity of 78.82%.



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

Eastside Distilling stock opened at $5.03 on Thursday. The stock has a market cap of $47.05 million, a price-to-earnings ratio of -3.38 and a beta of 0.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.26 and a current ratio of 4.88. Eastside Distilling has a 52 week low of $4.77 and a 52 week high of $9.25.

Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Eastside Distilling by 22.7% during the 4th 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. Royce & Associates LP raised its holdings in shares of Eastside Distilling by 33.3% in the fourth quarter. Royce & Associates LP now owns 35,150 shares of the company’s stock valued at $217,000 after buying an additional 8,780 shares during the last quarter. Connors Investor Services Inc. raised its holdings in shares of Eastside Distilling by 27.0% in 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 last quarter. Vanguard Group Inc raised its holdings in shares of Eastside Distilling by 160.3% in the third quarter. Vanguard Group Inc now owns 69,666 shares of the company’s stock valued at $571,000 after buying an additional 42,901 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Eastside Distilling by 160.3% in the third quarter. Vanguard Group Inc. now owns 69,666 shares of the company’s stock valued at $571,000 after buying 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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