Equities research analysts predict that Echo Global Logistics, Inc. (NASDAQ:ECHO) will post $597.93 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Echo Global Logistics’ earnings, with the lowest sales estimate coming in at $588.68 million and the highest estimate coming in at $610.80 million. Echo Global Logistics posted sales of $561.44 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The company is scheduled to announce its next quarterly earnings results on Wednesday, October 28th.
On average, analysts expect that Echo Global Logistics will report full year sales of $2.24 billion for the current year, with estimates ranging from $2.22 billion to $2.25 billion. For the next financial year, analysts anticipate that the company will report sales of $2.40 billion, with estimates ranging from $2.36 billion to $2.47 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 announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.16. Echo Global Logistics had a return on equity of 5.11% and a net margin of 0.20%. The firm had revenue of $514.72 million for the quarter, compared to analysts’ expectations of $466.76 million.
In related news, CFO Kyle Sauers sold 9,000 shares of Echo Global Logistics stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $25.60, for a total transaction of $230,400.00. Following the transaction, the chief financial officer now directly owns 88,140 shares of the company’s stock, valued at $2,256,384. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC boosted its position in shares of Echo Global Logistics by 2.2% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 1,460,177 shares of the transportation company’s stock valued at $31,569,000 after purchasing an additional 31,169 shares during the period. State Street Corp boosted its position in shares of Echo Global Logistics by 7.5% in the 1st quarter. State Street Corp now owns 943,268 shares of the transportation company’s stock valued at $16,111,000 after purchasing an additional 65,695 shares during the period. Emerald Advisers LLC acquired a new position in shares of Echo Global Logistics in the 2nd quarter valued at $13,936,000. RK Capital Management LLC boosted its position in shares of Echo Global Logistics by 35.9% in the 2nd quarter. RK Capital Management LLC now owns 599,900 shares of the transportation company’s stock valued at $12,970,000 after purchasing an additional 158,500 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Echo Global Logistics in the 2nd quarter valued at $12,701,000. Institutional investors and hedge funds own 97.16% of the company’s stock.
ECHO traded down $0.55 during trading hours on Tuesday, hitting $26.26. 83,305 shares of the stock were exchanged, compared to its average volume of 225,028. The stock has a 50-day simple moving average of $26.83 and a 200-day simple moving average of $21.60. Echo Global Logistics has a 12 month low of $14.17 and a 12 month high of $28.08. The stock has a market cap of $698.78 million, a price-to-earnings ratio of 164.13, a price-to-earnings-growth ratio of 2.69 and a beta of 1.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.39 and a quick ratio of 1.39.
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.
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