Brokerages expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will post $549.91 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Echo Global Logistics’ earnings, with the lowest sales estimate coming in at $544.90 million and the highest estimate coming in at $558.10 million. Echo Global Logistics posted sales of $644.82 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 14.7%. The firm is expected to issue its next earnings results on Wednesday, October 23rd.
On average, analysts expect that Echo Global Logistics will report full-year sales of $2.18 billion for the current year, with estimates ranging from $2.16 billion to $2.20 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.25 billion, with estimates ranging from $2.24 billion to $2.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $553.78 million during the quarter, compared to analysts’ expectations of $572.60 million. Echo Global Logistics had a net margin of 1.07% and a return on equity of 11.03%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 EPS.
A number of brokerages recently commented on ECHO. Zacks Investment Research downgraded Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Monday, July 29th. UBS Group set a $23.00 price target on Echo Global Logistics and gave the company a “hold” rating in a report on Friday, July 26th. Barrington Research reduced their price target on Echo Global Logistics from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, July 26th. They noted that the move was a valuation call. Cowen reissued an “outperform” rating and issued a $30.00 price target (down previously from $33.00) on shares of Echo Global Logistics in a report on Thursday, July 25th. Finally, ValuEngine raised Echo Global Logistics from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.44.
ECHO traded down $1.07 on Friday, reaching $19.28. The company’s stock had a trading volume of 109,812 shares, compared to its average volume of 241,840. The firm has a market cap of $555.19 million, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.84 and a beta of 2.00. Echo Global Logistics has a 1 year low of $18.00 and a 1 year high of $36.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a 50 day moving average of $20.10.
Large investors have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. bought a new stake in shares of Echo Global Logistics during the 2nd quarter worth $3,129,000. Jefferies Group LLC bought a new stake in shares of Echo Global Logistics during the 2nd quarter worth $209,000. Invesco Ltd. boosted its stake in shares of Echo Global Logistics by 53.0% during the 2nd quarter. Invesco Ltd. now owns 224,946 shares of the transportation company’s stock worth $4,695,000 after acquiring an additional 77,880 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Echo Global Logistics during the 2nd quarter worth $577,000. Finally, Laurion Capital Management LP bought a new stake in shares of Echo Global Logistics during the 2nd quarter worth $335,000. 96.19% of the stock is currently owned by institutional investors.
About Echo Global Logistics
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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