Equities analysts forecast that Echo Global Logistics, Inc. (NASDAQ:ECHO) will post $464.10 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Echo Global Logistics’ earnings, with estimates ranging from $461.81 million to $466.58 million. Echo Global Logistics posted sales of $443.83 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.6%. The business is scheduled to issue its next earnings results on Wednesday, July 26th.
According to Zacks, analysts expect that Echo Global Logistics will report full-year sales of $464.10 million for the current year, with estimates ranging from $1.81 billion to $1.93 billion. For the next year, analysts forecast that the company will report sales of $2.15 billion per share, with estimates ranging from $1.91 billion to $2.32 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. Echo Global Logistics had a negative net margin of 0.09% and a positive return on equity of 3.65%. The business had revenue of $415.80 million for the quarter, compared to analysts’ expectations of $417.30 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. Susquehanna Bancshares Inc upgraded shares of Echo Global Logistics from a “neutral” rating to a “positive” rating in a report on Thursday, April 13th. Cowen and Company reduced their target price on shares of Echo Global Logistics from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $28.80.
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Echo Global Logistics (NASDAQ:ECHO) traded up 2.00% during mid-day trading on Friday, reaching $20.40. 338,583 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $19.13 and its 200 day moving average price is $22.17. The firm’s market cap is $594.58 million. Echo Global Logistics has a one year low of $17.90 and a one year high of $28.90.
In related news, COO David B. Menzel sold 10,000 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $19.48, for a total transaction of $194,800.00. Following the transaction, the chief operating officer now directly owns 163,141 shares in the company, valued at approximately $3,177,986.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.10% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of Echo Global Logistics by 1.3% in the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock valued at $120,000 after buying an additional 70 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Echo Global Logistics during the first quarter valued at approximately $121,000. Mason Street Advisors LLC increased its position in shares of Echo Global Logistics by 6.5% in the first quarter. Mason Street Advisors LLC now owns 6,391 shares of the transportation company’s stock valued at $136,000 after buying an additional 388 shares during the last quarter. Atria Investments LLC increased its position in shares of Echo Global Logistics by 5.0% in the first quarter. Atria Investments LLC now owns 10,461 shares of the transportation company’s stock valued at $223,000 after buying an additional 496 shares during the last quarter. Finally, Nicolet Bankshares Inc. increased its position in shares of Echo Global Logistics by 6.4% in the first quarter. Nicolet Bankshares Inc. now owns 10,855 shares of the transportation company’s stock valued at $232,000 after buying an additional 650 shares during the last quarter. Institutional investors own 90.06% of the company’s stock.
About Echo Global Logistics
Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.
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