Equities research analysts forecast that Echo Global Logistics, Inc. (NASDAQ:ECHO) will report sales of $523.24 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Echo Global Logistics’ earnings, with estimates ranging from $521.39 million to $525.00 million. Echo Global Logistics reported sales of $582.98 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.2%. The company is expected to issue its next quarterly earnings report on Wednesday, February 5th.
According to Zacks, analysts expect that Echo Global Logistics will report full year sales of $2.18 billion for the current fiscal year, with estimates ranging from $2.17 billion to $2.18 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.24 billion, with estimates ranging from $2.19 billion to $2.31 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $561.44 million for the quarter, compared to analyst estimates of $548.10 million. Echo Global Logistics had a net margin of 0.91% and a return on equity of 9.70%. The business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS.
Several analysts have issued reports on ECHO shares. JPMorgan Chase & Co. lowered shares of Echo Global Logistics from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $22.00 to $26.00 in a research report on Friday, October 4th. ValuEngine upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Cowen decreased their price target on shares of Echo Global Logistics from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barrington Research reaffirmed a “buy” rating and set a $27.00 price objective on shares of Echo Global Logistics in a report on Monday, October 28th. Finally, Zacks Investment Research downgraded shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $25.33.
In other Echo Global Logistics news, COO David B. Menzel sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $20.89, for a total value of $417,800.00. Following the completion of the sale, the chief operating officer now owns 145,722 shares of the company’s stock, valued at $3,044,132.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. lifted its position in Echo Global Logistics by 4.1% in the third quarter. Pacer Advisors Inc. now owns 15,116 shares of the transportation company’s stock valued at $342,000 after purchasing an additional 598 shares during the last quarter. Prudential Financial Inc. lifted its position in Echo Global Logistics by 2.2% in the second quarter. Prudential Financial Inc. now owns 50,144 shares of the transportation company’s stock valued at $1,047,000 after purchasing an additional 1,100 shares during the last quarter. Stifel Financial Corp lifted its position in Echo Global Logistics by 1.9% in the third quarter. Stifel Financial Corp now owns 103,576 shares of the transportation company’s stock valued at $2,346,000 after purchasing an additional 1,887 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Echo Global Logistics by 265.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,024 shares of the transportation company’s stock valued at $63,000 after purchasing an additional 2,196 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in Echo Global Logistics by 17.3% in the third quarter. New York State Teachers Retirement System now owns 16,964 shares of the transportation company’s stock valued at $384,000 after purchasing an additional 2,500 shares during the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.
NASDAQ ECHO opened at $21.76 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $571.55 million, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.05 and a beta of 1.89. The company’s fifty day moving average is $20.07 and its two-hundred day moving average is $20.74. Echo Global Logistics has a 52-week low of $18.00 and a 52-week high of $25.95.
Echo Global Logistics Company Profile
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It utilizes a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs.
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