Equities analysts expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to announce earnings of $0.44 per share for the current quarter, according to Zacks. Four analysts have made estimates for Echo Global Logistics’ earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.41. Echo Global Logistics posted earnings of $0.55 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 20%. The business is scheduled to report its next quarterly earnings report on Wednesday, October 23rd.
On average, analysts expect that Echo Global Logistics will report full year earnings of $1.67 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.85. For the next fiscal year, analysts expect that the firm will post earnings of $1.76 per share, with EPS estimates ranging from $1.50 to $1.95. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Echo Global Logistics had a return on equity of 11.03% and a net margin of 1.07%. The firm had revenue of $553.78 million for the quarter, compared to the consensus estimate of $572.60 million. During the same period in the prior year, the business earned $0.46 EPS. The company’s quarterly revenue was down 12.8% on a year-over-year basis.
A number of research analysts have commented on ECHO shares. BidaskClub raised Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Saturday, June 29th. Stephens downgraded Echo Global Logistics from an “overweight” rating to an “equal weight” rating and set a $26.00 price target on the stock. in a report on Monday, July 1st. Barrington Research cut their price target on Echo Global Logistics from $29.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. They noted that the move was a valuation call. ValuEngine raised Echo Global Logistics from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Finally, TheStreet downgraded Echo Global Logistics from a “b” rating to a “c+” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $25.44.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Echo Global Logistics by 0.7% in the 2nd quarter. BlackRock Inc. now owns 4,332,605 shares of the transportation company’s stock worth $90,421,000 after purchasing an additional 30,187 shares during the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of Echo Global Logistics by 11.2% in the 1st quarter. Rice Hall James & Associates LLC now owns 1,097,357 shares of the transportation company’s stock worth $27,193,000 after purchasing an additional 110,365 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Echo Global Logistics by 18.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 471,904 shares of the transportation company’s stock worth $9,849,000 after purchasing an additional 72,577 shares during the last quarter. Stephens Investment Management Group LLC lifted its holdings in shares of Echo Global Logistics by 3.1% in the 2nd quarter. Stephens Investment Management Group LLC now owns 471,323 shares of the transportation company’s stock worth $9,837,000 after purchasing an additional 14,292 shares during the last quarter. Finally, AMI Asset Management Corp lifted its holdings in shares of Echo Global Logistics by 21.5% in the 2nd quarter. AMI Asset Management Corp now owns 456,510 shares of the transportation company’s stock worth $9,527,000 after purchasing an additional 80,747 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:ECHO traded down $1.07 during trading hours on Wednesday, reaching $19.28. 109,812 shares of the stock were exchanged, compared to its average volume of 241,840. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $20.10. Echo Global Logistics has a 52 week low of $18.00 and a 52 week high of $36.75. The firm has a market cap of $555.19 million, a PE ratio of 11.90, a P/E/G ratio of 0.84 and a beta of 2.00.
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.
See Also: P/E Growth (PEG)
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.