Wall Street brokerages forecast that Echo Global Logistics, Inc. (NASDAQ:ECHO) will post sales of $549.91 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Echo Global Logistics’ earnings. The highest sales estimate is $558.10 million and the lowest is $544.90 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 scheduled to announce its next earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Echo Global Logistics will report full year sales of $2.18 billion for the current financial year, with estimates ranging from $2.16 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’ sales calculations are a mean average based on a survey of research analysts that cover Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $553.78 million for the quarter, compared to analyst estimates of $572.60 million. Echo Global Logistics had a return on equity of 11.03% and a net margin of 1.07%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS.
Several research analysts recently weighed in on the stock. TheStreet downgraded shares of Echo Global Logistics from a “b” rating to a “c+” rating in a research note on Wednesday, April 24th. ValuEngine raised shares of Echo Global Logistics from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. BidaskClub raised shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Saturday, June 29th. UBS Group set a $23.00 target price on shares of Echo Global Logistics and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Loop Capital downgraded shares of Echo Global Logistics from a “buy” rating to a “hold” rating and cut their target price for the company from $30.00 to $22.00 in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.44.
Shares of NASDAQ:ECHO traded up $0.49 during midday trading on Friday, hitting $19.74. 261,049 shares of the stock were exchanged, compared to its average volume of 241,466. The company has a 50 day moving average price of $20.08 and a 200-day moving average price of $22.28. Echo Global Logistics has a twelve month low of $18.00 and a twelve month high of $36.75. The stock has a market cap of $555.20 million, a P/E ratio of 12.19, a PEG ratio of 0.84 and a beta of 2.00. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.
Several hedge funds and other institutional investors have recently bought and sold shares of ECHO. Nuveen Asset Management LLC acquired a new stake in shares of Echo Global Logistics during the 2nd quarter valued at approximately $7,033,000. Victory Capital Management Inc. raised its position in shares of Echo Global Logistics by 9.2% during the 2nd quarter. Victory Capital Management Inc. now owns 75,183 shares of the transportation company’s stock valued at $1,569,000 after acquiring an additional 6,357 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Echo Global Logistics by 14.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 26,539 shares of the transportation company’s stock valued at $554,000 after acquiring an additional 3,426 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Echo Global Logistics during the 2nd quarter valued at approximately $3,129,000. Finally, Jefferies Group LLC acquired a new stake in shares of Echo Global Logistics during the 2nd quarter valued at approximately $209,000. 96.19% of the stock is 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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