Echo Global Logistics, Inc. (ECHO) Expected to Post Quarterly Sales of $525.32 Million
Equities analysts expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will report $525.32 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Echo Global Logistics’ earnings, with the lowest sales estimate coming in at $518.94 million and the highest estimate coming in at $531.70 million. Echo Global Logistics posted sales of $415.75 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.4%. The company is expected to announce its next quarterly earnings report on Wednesday, April 25th.
On average, analysts expect that Echo Global Logistics will report full year sales of $525.32 million for the current fiscal year, with estimates ranging from $2.20 billion to $2.26 billion. For the next financial year, analysts expect that the company will report sales of $2.46 billion per share, with estimates ranging from $2.41 billion to $2.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Echo Global Logistics.
Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, February 7th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.14. Echo Global Logistics had a net margin of 0.65% and a return on equity of 5.22%. The firm had revenue of $547.70 million for the quarter, compared to analysts’ expectations of $484.47 million. During the same quarter last year, the company posted $0.07 earnings per share. Echo Global Logistics’s revenue was up 34.6% on a year-over-year basis.
In related news, Director Matthew Wagner Ferguson sold 10,389 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $29.18, for a total transaction of $303,151.02. Following the transaction, the director now owns 17,983 shares in the company, valued at $524,743.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David B. Menzel sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $28.64, for a total transaction of $1,432,000.00. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. We Are One Seven LLC acquired a new position in shares of Echo Global Logistics during the fourth quarter valued at approximately $171,000. Stone Ridge Asset Management LLC acquired a new position in shares of Echo Global Logistics during the fourth quarter valued at approximately $222,000. First Republic Investment Management Inc. acquired a new position in shares of Echo Global Logistics during the fourth quarter valued at approximately $238,000. Teacher Retirement System of Texas acquired a new position in shares of Echo Global Logistics during the fourth quarter valued at approximately $245,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Echo Global Logistics during the fourth quarter valued at approximately $266,000. Institutional investors and hedge funds own 99.17% of the company’s stock.
Echo Global Logistics (NASDAQ ECHO) opened at $26.40 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. Echo Global Logistics has a twelve month low of $13.00 and a twelve month high of $32.95. The stock has a market cap of $741.25, a PE ratio of 57.39, a price-to-earnings-growth ratio of 1.71 and a beta of 1.58.
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About Echo Global Logistics
Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.
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