Wall Street brokerages expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to announce sales of $575.88 million for the current quarter, according to Zacks. Four analysts have provided estimates for Echo Global Logistics’ earnings, with the highest sales estimate coming in at $588.40 million and the lowest estimate coming in at $570.80 million. Echo Global Logistics reported sales of $634.81 million during the same quarter last year, which would suggest a negative year over year growth rate of 9.3%. The business is scheduled to report its next earnings results after the market closes on Wednesday, July 24th.
On average, analysts expect that Echo Global Logistics will report full year sales of $2.32 billion for the current fiscal year, with estimates ranging from $2.27 billion to $2.37 billion. For the next financial year, analysts expect that the firm will report sales of $2.42 billion, with estimates ranging from $2.34 billion to $2.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Echo Global Logistics had a net margin of 1.15% and a return on equity of 11.64%. The business had revenue of $538.10 million for the quarter, compared to the consensus estimate of $549.32 million. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year.
A number of brokerages have recently commented on ECHO. Cowen raised their target price on shares of ServiceNow from $260.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Stephens set a $112.00 target price on shares of Genesee & Wyoming and gave the company a “hold” rating in a research note on Monday, July 1st. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a report on Saturday, June 29th. Finally, TheStreet raised shares of Viacom from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Echo Global Logistics presently has a consensus rating of “Hold” and a consensus price target of $28.40.
Shares of ECHO stock remained flat at $$19.13 during mid-day trading on Wednesday. 93,900 shares of the stock were exchanged, compared to its average volume of 236,714. The business’s 50-day moving average price is $19.83. Echo Global Logistics has a fifty-two week low of $18.83 and a fifty-two week high of $36.75. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.55. The firm has a market cap of $533.67 million, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.72 and a beta of 1.95.
A number of hedge funds have recently made changes to their positions in ECHO. Summit Creek Advisors LLC boosted its holdings in shares of Echo Global Logistics by 0.3% in the 2nd quarter. Summit Creek Advisors LLC now owns 338,530 shares of the transportation company’s stock valued at $7,065,000 after buying an additional 910 shares during the period. Taylor Frigon Capital Management LLC increased its position in shares of Echo Global Logistics by 11.4% in the second quarter. Taylor Frigon Capital Management LLC now owns 85,204 shares of the transportation company’s stock worth $1,778,000 after acquiring an additional 8,747 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Echo Global Logistics in the first quarter worth approximately $208,000. Greytown Advisors Inc. purchased a new position in shares of Echo Global Logistics in the first quarter worth approximately $202,000. Finally, Lazard Asset Management LLC increased its position in shares of Echo Global Logistics by 45.8% in the first quarter. Lazard Asset Management LLC now owns 377,283 shares of the transportation company’s stock worth $9,349,000 after acquiring an additional 118,550 shares in the last quarter. 97.99% of the stock is owned by 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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