Equities analysts expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will post $525.32 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Echo Global Logistics’ earnings. The highest sales estimate is $531.70 million and the lowest is $518.94 million. Echo Global Logistics reported sales of $415.75 million during the same quarter last year, which indicates a positive year-over-year growth rate of 26.4%. The firm is expected to issue its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Echo Global Logistics will report full year sales of $525.32 million for the current year, with estimates ranging from $2.20 billion to $2.26 billion. For the next fiscal year, analysts expect that the company will post sales of $2.40 billion per share, with estimates ranging from $2.29 billion to $2.51 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.33 earnings per share (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 period last year, the company earned $0.07 EPS.
Several research firms have recently issued reports on ECHO. Stephens reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Echo Global Logistics in a research note on Wednesday, January 10th. 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 note on Thursday, October 26th. Credit Suisse Group raised their price objective on Echo Global Logistics from $24.50 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Cowen reaffirmed an “outperform” rating and issued a $34.00 price objective (up from $23.00) on shares of Echo Global Logistics in a research note on Thursday, February 8th. Finally, BidaskClub lowered Echo Global Logistics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $30.40.
Echo Global Logistics (ECHO) traded down $0.95 during trading hours on Thursday, hitting $27.85. The stock had a trading volume of 500,397 shares, compared to its average volume of 447,409. The company has a market cap of $777.24, a price-to-earnings ratio of 60.54, a price-to-earnings-growth ratio of 1.80 and a beta of 1.55. Echo Global Logistics has a 1-year low of $13.00 and a 1-year high of $32.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 1.40.
In related news, Director Matthew Wagner Ferguson sold 10,389 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $29.18, for a total transaction of $303,151.02. Following the completion of the sale, the director now directly owns 17,983 shares of the company’s stock, valued at approximately $524,743.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David B. Menzel sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $24.55, for a total value of $736,500.00. Following the sale, the chief operating officer now directly owns 180,322 shares of the company’s stock, valued at $4,426,905.10. The disclosure for this sale can be found here. Insiders have sold a total of 90,389 shares of company stock valued at $2,471,651 over the last three months. 8.10% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. We Are One Seven LLC bought a new stake in shares of Echo Global Logistics during the 4th quarter worth approximately $171,000. Stone Ridge Asset Management LLC purchased a new position in Echo Global Logistics during the 4th quarter worth $222,000. First Republic Investment Management Inc. purchased a new position in Echo Global Logistics during the 4th quarter worth $238,000. Teacher Retirement System of Texas purchased a new position in Echo Global Logistics during the 4th quarter worth $245,000. Finally, UBS Asset Management Americas Inc. purchased a new position in Echo Global Logistics during the 4th quarter worth $266,000. 93.65% of the stock is owned by hedge funds and other institutional investors.
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About Echo Global Logistics
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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