Wall Street brokerages expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to report $632.54 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Echo Global Logistics’ earnings. The lowest sales estimate is $630.00 million and the highest is $636.40 million. Echo Global Logistics reported sales of $509.53 million during the same quarter last year, which indicates a positive year over year growth rate of 24.1%. The business is expected to announce its next earnings report 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 fiscal year, with estimates ranging from $2.43 billion to $2.47 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.66 billion, with estimates ranging from $2.64 billion to $2.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, July 25th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The business had revenue of $635.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share.
In related news, CEO Douglas R. Waggoner sold 40,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 346,332 shares of the company’s stock, valued at $10,895,604.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David B. Menzel sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $34.13, for a total value of $682,600.00. Following the transaction, the chief operating officer now directly owns 147,334 shares in the company, valued at approximately $5,028,509.42. The disclosure for this sale can be found here. Insiders have sold 71,000 shares of company stock worth $2,307,090 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in ECHO. Federated Investors Inc. PA grew its holdings in Echo Global Logistics by 820.8% during the first quarter. Federated Investors Inc. PA now owns 4,116 shares of the transportation company’s stock worth $114,000 after acquiring an additional 3,669 shares during the period. SG Americas Securities LLC acquired a new position in Echo Global Logistics during the second quarter worth $175,000. Piedmont Investment Advisors LLC acquired a new position in Echo Global Logistics during the second quarter worth $182,000. Bowling Portfolio Management LLC acquired a new position in Echo Global Logistics during the third quarter worth $248,000. Finally, PNC Financial Services Group Inc. grew its holdings in Echo Global Logistics by 392.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,440 shares of the transportation company’s stock worth $261,000 after acquiring an additional 7,523 shares during the period. 97.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:ECHO traded down $1.37 during trading on Friday, reaching $25.24. The company had a trading volume of 684,300 shares, compared to its average volume of 402,474. The firm has a market cap of $883.56 million, a P/E ratio of 39.58, a PEG ratio of 1.25 and a beta of 1.61. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.57. Echo Global Logistics has a fifty-two week low of $18.70 and a fifty-two week 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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