Zacks: Brokerages Anticipate Echo Global Logistics, Inc. (ECHO) to Post $0.43 Earnings Per Share

Wall Street brokerages expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to post $0.43 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for Echo Global Logistics’ earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.51. Echo Global Logistics posted earnings per share of $0.27 in the same quarter last year, which would indicate a positive year over year growth rate of 59.3%. The business is expected to issue its next earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that Echo Global Logistics will report full year earnings of $1.66 per share for the current fiscal year, with EPS estimates ranging from $1.39 to $1.77. For the next financial year, analysts forecast that the business will report earnings of $1.85 per share, with EPS estimates ranging from $1.47 to $2.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Echo Global Logistics.

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

A number of equities research analysts recently weighed in on ECHO shares. BidaskClub cut Echo Global Logistics from a “buy” rating to a “hold” rating in a report on Thursday, June 7th. ValuEngine upgraded Echo Global Logistics from a “hold” rating to a “buy” rating in a report on Monday, June 11th. Stifel Nicolaus started coverage on Echo Global Logistics in a report on Tuesday, June 19th. They issued a “buy” rating and a $34.00 price target on the stock. Barrington Research restated a “buy” rating on shares of Echo Global Logistics in a report on Friday, June 29th. Finally, Cowen upped their price target on Echo Global Logistics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $34.67.

In related news, CEO Douglas R. Waggoner sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $33.03, for a total value of $165,150.00. Following the sale, the chief executive officer now owns 311,532 shares of the company’s stock, valued at approximately $10,289,901.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kyle Sauers sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $33.49, for a total value of $200,940.00. Following the completion of the sale, the chief financial officer now directly owns 64,287 shares in the company, valued at approximately $2,152,971.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,000 shares of company stock worth $2,307,090. 3.20% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of ECHO. Federated Investors Inc. PA lifted its stake in shares of Echo Global Logistics by 820.8% during 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. SG Americas Securities LLC purchased a new position in shares of Echo Global Logistics during the 2nd quarter worth $175,000. Piedmont Investment Advisors LLC purchased a new position in shares of Echo Global Logistics during the 2nd quarter worth $182,000. PNC Financial Services Group Inc. lifted its stake in shares of Echo Global Logistics by 392.4% during 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, Cubist Systematic Strategies LLC purchased a new position in shares of Echo Global Logistics during the 1st quarter worth $279,000. 97.99% of the stock is currently owned by institutional investors.

Shares of ECHO traded down $2.48 on Monday, reaching $33.12. The stock had a trading volume of 31,483 shares, compared to its average volume of 394,185. The stock has a market cap of $1.02 billion, a P/E ratio of 50.23, a P/E/G ratio of 1.43 and a beta of 1.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.46 and a quick ratio of 1.46. Echo Global Logistics has a twelve month low of $17.70 and a twelve month high of $36.75.

About Echo Global Logistics

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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