Echo Global Logistics, Inc. (ECHO) Expected to Announce Quarterly Sales of $525.32 Million

Equities analysts expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will report $525.32 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Echo Global Logistics’ earnings, with the lowest sales estimate coming in at $518.94 million and the highest estimate coming in at $531.70 million. Echo Global Logistics posted sales of $415.75 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.4%. The company is expected to announce its next quarterly earnings report on Wednesday, April 25th.

On average, analysts expect that Echo Global Logistics will report full year sales of $525.32 million for the current fiscal year, with estimates ranging from $2.20 billion to $2.26 billion. For the next financial year, analysts expect that the company will report sales of $2.40 billion per share, with estimates ranging from $2.29 billion to $2.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Echo Global Logistics.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.19 by $0.14. The business had revenue of $547.70 million during the quarter, compared to analyst estimates of $484.47 million. Echo Global Logistics had a return on equity of 5.22% and a net margin of 0.65%. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 earnings per share.

Several equities analysts have commented on ECHO shares. Cowen raised their price objective on Echo Global Logistics from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. UBS Group raised their price objective on Echo Global Logistics from $13.00 to $19.00 and gave the company a “sell” rating in a research report on Thursday, October 26th. Stifel Nicolaus raised their price objective on Echo Global Logistics from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Morgan Stanley raised their price objective on Echo Global Logistics from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Finally, Credit Suisse Group raised their price objective on Echo Global Logistics from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $29.90.

In other news, COO David B. Menzel sold 30,000 shares of Echo Global Logistics stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $24.55, for a total value of $736,500.00. Following the completion of the transaction, the chief operating officer now owns 180,322 shares of the company’s stock, valued at approximately $4,426,905.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its position in shares of Echo Global Logistics by 59.4% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,280 shares of the transportation company’s stock worth $194,000 after purchasing an additional 3,830 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Echo Global Logistics in the 3rd quarter worth about $207,000. SG Americas Securities LLC raised its position in shares of Echo Global Logistics by 61.5% in the 3rd quarter. SG Americas Securities LLC now owns 11,133 shares of the transportation company’s stock worth $210,000 after purchasing an additional 4,239 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new position in shares of Echo Global Logistics in the 4th quarter worth about $222,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Echo Global Logistics in the 2nd quarter worth about $232,000. 93.65% of the stock is owned by hedge funds and other institutional investors.

Echo Global Logistics (ECHO) opened at $29.50 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.40 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $819.09, a price-to-earnings ratio of 43.81, a price-to-earnings-growth ratio of 2.35 and a beta of 1.55. Echo Global Logistics has a 52-week low of $13.00 and a 52-week high of $32.95.

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Echo Global Logistics Company Profile

Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.

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