$472.91 Million in Sales Expected for Echo Global Logistics, Inc. (ECHO) This Quarter

Analysts expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to announce sales of $472.91 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Echo Global Logistics’ earnings. The lowest sales estimate is $466.27 million and the highest is $480.72 million. Echo Global Logistics reported sales of $460.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.8%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, October 25th.

According to Zacks, analysts expect that Echo Global Logistics will report full year sales of $472.91 million for the current fiscal year, with estimates ranging from $1.79 billion to $1.81 billion. For the next financial year, analysts forecast that the business will post sales of $1.99 billion per share, with estimates ranging from $1.91 billion to $2.07 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Echo Global Logistics.

Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Thursday, July 27th. The transportation company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). Echo Global Logistics had a negative net margin of 0.21% and a positive return on equity of 3.22%. The firm had revenue of $470.10 million for the quarter, compared to analysts’ expectations of $470.25 million. During the same period in the previous year, the company earned $0.33 EPS. The company’s revenue was up 5.9% on a year-over-year basis.

ECHO has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub downgraded shares of Echo Global Logistics from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Cowen and Company restated a “buy” rating and set a $19.00 price objective on shares of Echo Global Logistics in a research report on Friday, September 1st. William Blair restated a “market perform” rating on shares of Echo Global Logistics in a research report on Friday, July 28th. Finally, ValuEngine upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Echo Global Logistics (NASDAQ ECHO) traded down 3.09% during midday trading on Thursday, reaching $18.80. 329,981 shares of the company were exchanged. The company’s market capitalization is $536.44 million. Echo Global Logistics has a 52 week low of $13.00 and a 52 week high of $28.90. The firm has a 50-day moving average price of $17.39 and a 200-day moving average price of $18.08.

Several hedge funds have recently added to or reduced their stakes in ECHO. Great West Life Assurance Co. Can grew its position in shares of Echo Global Logistics by 6.7% during the first quarter. Great West Life Assurance Co. Can now owns 38,106 shares of the transportation company’s stock worth $812,000 after buying an additional 2,398 shares in the last quarter. State of Tennessee Treasury Department grew its position in shares of Echo Global Logistics by 26.1% during the first quarter. State of Tennessee Treasury Department now owns 25,831 shares of the transportation company’s stock worth $551,000 after buying an additional 5,348 shares in the last quarter. Mason Street Advisors LLC grew its position in shares of Echo Global Logistics by 6.5% during the first quarter. Mason Street Advisors LLC now owns 6,391 shares of the transportation company’s stock worth $136,000 after buying an additional 388 shares in the last quarter. Stifel Financial Corp grew its position in shares of Echo Global Logistics by 18.9% during the first quarter. Stifel Financial Corp now owns 16,161 shares of the transportation company’s stock worth $343,000 after buying an additional 2,573 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Echo Global Logistics by 1.3% during the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock worth $120,000 after buying an additional 70 shares in the last quarter. 87.56% of the stock is owned by institutional investors and hedge funds.

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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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