Analysts expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to post sales of $527.32 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Echo Global Logistics’ earnings, with estimates ranging from $521.39 million to $535.40 million. Echo Global Logistics posted sales of $582.98 million in the same quarter last year, which suggests a negative year-over-year growth rate of 9.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 5th.
On average, analysts expect that Echo Global Logistics will report full year sales of $2.18 billion for the current financial year, with estimates ranging from $2.17 billion to $2.19 billion. For the next year, analysts anticipate that the company will post sales of $2.24 billion, with estimates ranging from $2.20 billion to $2.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ 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 revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share.
A number of research firms have recently issued reports on ECHO. ValuEngine upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub lowered shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. JPMorgan Chase & Co. cut Echo Global Logistics from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $22.00 to $26.00 in a research note on Friday, October 4th. Cowen reduced their target price on Echo Global Logistics from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Zacks Investment Research upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $25.60.
Echo Global Logistics stock traded up $0.05 during trading hours on Friday, hitting $19.26. The stock had a trading volume of 5,450 shares, compared to its average volume of 167,285. The company has a 50-day moving average of $21.16 and a two-hundred day moving average of $20.80. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.49. Echo Global Logistics has a fifty-two week low of $18.00 and a fifty-two week high of $25.95. The company has a market cap of $546.72 million, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.97 and a beta of 1.89.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Echo Global Logistics by 0.7% in the 2nd quarter. BlackRock Inc. now owns 4,332,605 shares of the transportation company’s stock valued at $90,421,000 after buying an additional 30,187 shares in the last quarter. North Star Asset Management Inc. boosted its stake in shares of Echo Global Logistics by 0.6% in the 3rd quarter. North Star Asset Management Inc. now owns 475,831 shares of the transportation company’s stock valued at $10,778,000 after purchasing an additional 2,635 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Echo Global Logistics by 18.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 471,904 shares of the transportation company’s stock worth $9,849,000 after buying an additional 72,577 shares during the period. Stephens Investment Management Group LLC raised its stake in Echo Global Logistics by 3.1% during the second quarter. Stephens Investment Management Group LLC now owns 471,323 shares of the transportation company’s stock worth $9,837,000 after buying an additional 14,292 shares during the last quarter. Finally, AMI Asset Management Corp raised its stake in Echo Global Logistics by 21.5% during the second quarter. AMI Asset Management Corp now owns 456,510 shares of the transportation company’s stock worth $9,527,000 after buying an additional 80,747 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.
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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