$627.38 Million in Sales Expected for Echo Global Logistics, Inc. (ECHO) This Quarter

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Wall Street analysts expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will report sales of $627.38 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Echo Global Logistics’ earnings. The highest sales estimate is $636.40 million and the lowest is $612.62 million. Echo Global Logistics posted sales of $509.53 million during the same quarter last year, which would indicate a positive year over year growth rate of 23.1%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that Echo Global Logistics will report full year sales of $2.44 billion for the current year, with estimates ranging from $2.42 billion to $2.47 billion. For the next year, analysts forecast that the firm will post sales of $2.65 billion, with estimates ranging from $2.64 billion to $2.67 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Echo Global Logistics.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, July 25th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. Echo Global Logistics had a net margin of 1.24% and a return on equity of 9.43%. The company had revenue of $635.00 million for the quarter, compared to the consensus estimate of $611.26 million. During the same period last year, the company posted $0.18 EPS. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year.

A number of research firms have recently weighed in on ECHO. Morgan Stanley raised their price target on shares of Echo Global Logistics from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Tuesday. BidaskClub downgraded shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. ValuEngine downgraded shares of Echo Global Logistics from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Zacks Investment Research downgraded shares of Echo Global Logistics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Finally, TheStreet upgraded shares of Echo Global Logistics from a “c+” rating to a “b-” rating in a research report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $34.89.

ECHO opened at $27.46 on Friday. Echo Global Logistics has a 1-year low of $18.70 and a 1-year high of $36.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $883.56 million, a PE ratio of 41.42, a P/E/G ratio of 1.25 and a beta of 1.61.

In related news, CEO Douglas R. Waggoner sold 5,000 shares of Echo Global Logistics stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $33.03, for a total transaction of $165,150.00. Following the sale, the chief executive officer now directly owns 311,532 shares in the company, valued at approximately $10,289,901.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas R. Waggoner sold 40,000 shares of Echo Global Logistics stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $31.46, for a total transaction of $1,258,400.00. Following the sale, the chief executive officer now owns 346,332 shares in the company, valued at $10,895,604.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,000 shares of company stock worth $2,307,090. 3.20% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. lifted its position in shares of Echo Global Logistics by 10.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 246,238 shares of the transportation company’s stock worth $6,797,000 after purchasing an additional 23,958 shares during the period. BlackRock Inc. lifted its position in shares of Echo Global Logistics by 1.5% in the 1st quarter. BlackRock Inc. now owns 3,583,112 shares of the transportation company’s stock worth $98,894,000 after purchasing an additional 53,960 shares during the period. Federated Investors Inc. PA lifted its position in shares of Echo Global Logistics by 820.8% in the 1st quarter. Federated Investors Inc. PA now owns 4,116 shares of the transportation company’s stock worth $114,000 after purchasing an additional 3,669 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Echo Global Logistics by 392.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,440 shares of the transportation company’s stock worth $261,000 after purchasing an additional 7,523 shares during the period. Finally, Koch Industries Inc. acquired a new position in shares of Echo Global Logistics in the 1st quarter worth approximately $314,000. Institutional investors and hedge funds own 97.99% of the company’s stock.

Echo Global Logistics Company Profile

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.

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