Wall Street brokerages expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to announce $0.11 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Echo Global Logistics’ earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.15. Echo Global Logistics reported earnings of $0.42 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 73.8%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, July 22nd.
On average, analysts expect that Echo Global Logistics will report full-year earnings of $0.79 per share for the current year, with EPS estimates ranging from $0.70 to $0.92. For the next financial year, analysts forecast that the firm will report earnings of $1.22 per share, with EPS estimates ranging from $1.01 to $1.35. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. Echo Global Logistics had a net margin of 0.38% and a return on equity of 6.57%. The company had revenue of $551.00 million for the quarter, compared to the consensus estimate of $550.89 million. During the same quarter in the previous year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year.
ECHO has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Echo Global Logistics from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. UBS Group upped their price target on shares of Echo Global Logistics from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. SunTrust Banks reduced their price target on shares of Echo Global Logistics from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Barrington Research reduced their price target on shares of Echo Global Logistics from $27.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, April 24th. Finally, Stifel Nicolaus upped their price target on shares of Echo Global Logistics from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $22.08.
Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of Echo Global Logistics in the 4th quarter valued at about $35,000. Cutler Group LP bought a new stake in shares of Echo Global Logistics in the 1st quarter valued at about $35,000. Sowell Financial Services LLC bought a new stake in shares of Echo Global Logistics in the 1st quarter valued at about $52,000. First Trust Advisors LP bought a new stake in Echo Global Logistics during the 1st quarter worth approximately $208,000. Finally, SG Americas Securities LLC increased its stake in Echo Global Logistics by 64.9% during the 1st quarter. SG Americas Securities LLC now owns 9,446 shares of the transportation company’s stock worth $161,000 after purchasing an additional 3,716 shares in the last quarter. 97.57% of the stock is owned by institutional investors.
NASDAQ ECHO traded up $0.52 on Tuesday, hitting $22.57. 2,485 shares of the company were exchanged, compared to its average volume of 203,295. The firm has a 50 day moving average of $21.36 and a two-hundred day moving average of $19.42. The company has a market cap of $594.31 million, a P/E ratio of 72.97, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Echo Global Logistics has a 1-year low of $14.17 and a 1-year high of $24.50.
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.
Read More: Conference Calls
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Echo Global Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics and related companies with MarketBeat.com's FREE daily email newsletter.