Equities research analysts forecast that Echo Global Logistics, Inc. (NASDAQ:ECHO) will report sales of $589.02 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Echo Global Logistics’ earnings, with the highest sales estimate coming in at $596.51 million and the lowest estimate coming in at $582.90 million. Echo Global Logistics reported sales of $547.72 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 6th.
According to Zacks, analysts expect that Echo Global Logistics will report full year sales of $2.44 billion for the current financial year, with estimates ranging from $2.44 billion to $2.45 billion. For the next year, analysts forecast that the firm will report sales of $2.62 billion, with estimates ranging from $2.56 billion to $2.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, October 24th. The transportation company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. Echo Global Logistics had a return on equity of 11.25% and a net margin of 1.46%. The business had revenue of $644.82 million for the quarter, compared to analysts’ expectations of $632.54 million.
ECHO stock traded down $1.14 during trading on Wednesday, hitting $25.25. The company had a trading volume of 371,110 shares, compared to its average volume of 461,743. Echo Global Logistics has a one year low of $23.25 and a one year high of $36.75. The stock has a market capitalization of $762.50 million, a PE ratio of 38.26, a PEG ratio of 0.98 and a beta of 1.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.51 and a quick ratio of 1.51.
In other 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 transaction of $165,150.00. Following the transaction, the chief executive officer now directly owns 311,532 shares of the company’s stock, valued at $10,289,901.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Echo Global Logistics in the 2nd quarter valued at $175,000. Piedmont Investment Advisors LLC purchased a new stake in Echo Global Logistics in the 2nd quarter valued at $182,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Echo Global Logistics in the 3rd quarter valued at $211,000. First Trust Advisors LP purchased a new stake in Echo Global Logistics in the 3rd quarter valued at $213,000. Finally, Bowling Portfolio Management LLC purchased a new stake in Echo Global Logistics in the 3rd quarter valued at $248,000. 99.40% of the stock is currently owned by institutional investors.
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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