Zacks: Brokerages Anticipate Echo Global Logistics, Inc. (NASDAQ:ECHO) Will Announce Quarterly Sales of $527.32 Million

Analysts expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will report sales of $527.32 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Echo Global Logistics’ earnings. The highest sales estimate is $535.40 million and the lowest is $521.39 million. Echo Global Logistics posted sales of $582.98 million during the same quarter last year, which suggests a negative year-over-year growth rate of 9.5%. The business is expected to issue its next 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 year, with estimates ranging from $2.17 billion to $2.19 billion. For the next financial year, analysts forecast that the company will post sales of $2.24 billion, with estimates ranging from $2.20 billion to $2.27 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Echo Global Logistics.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $561.44 million during 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%. Echo Global Logistics’s revenue was down 12.9% compared to the same quarter last year. During the same period last year, the business earned $0.55 earnings per share.

A number of equities research analysts recently issued reports on the company. ValuEngine upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barrington Research reissued a “buy” rating and issued a $27.00 target price on shares of Echo Global Logistics in a research report on Monday, October 28th. JPMorgan Chase & Co. cut Echo Global Logistics from an “overweight” rating to a “neutral” rating and raised their target price for the company from $22.00 to $26.00 in a research note on Friday, October 4th. BidaskClub lowered Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Finally, Zacks Investment Research raised Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Echo Global Logistics presently has an average rating of “Hold” and an average price target of $25.60.

NASDAQ ECHO traded up $0.05 on Friday, hitting $19.26. The stock had a trading volume of 5,450 shares, compared to its average volume of 167,285. The firm has a 50-day moving average of $21.16 and a 200-day moving average of $20.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.39 and a current ratio of 1.39. Echo Global Logistics has a 52-week low of $18.00 and a 52-week high of $25.95. The company has a market capitalization of $546.72 million, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 0.97 and a beta of 1.89.

Institutional investors and hedge funds have recently modified their holdings of the company. A.R.T. Advisors LLC purchased a new position in shares of Echo Global Logistics in the second quarter valued at approximately $577,000. Invesco Ltd. boosted its position 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 purchasing an additional 77,880 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Echo Global Logistics by 265.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,024 shares of the transportation company’s stock worth $63,000 after purchasing an additional 2,196 shares during the period. North Star Asset Management Inc. increased its holdings in 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. Finally, Strs Ohio purchased a new stake in Echo Global Logistics in the third quarter valued at approximately $70,000. 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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Earnings History and Estimates for Echo Global Logistics (NASDAQ:ECHO)

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