Echo Global Logistics, Inc. (NASDAQ:ECHO) Expected to Post Earnings of $0.39 Per Share

Equities research analysts expect that Echo Global Logistics, Inc. (NASDAQ:ECHO) will announce earnings of $0.39 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Echo Global Logistics’ earnings, with estimates ranging from $0.34 to $0.44. Echo Global Logistics posted earnings of $0.55 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 29.1%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, October 23rd.

On average, analysts expect that Echo Global Logistics will report full-year earnings of $1.52 per share for the current year, with EPS estimates ranging from $1.39 to $1.70. For the next year, analysts anticipate that the firm will post earnings of $1.64 per share, with EPS estimates ranging from $1.45 to $1.85. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Echo Global Logistics.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). Echo Global Logistics had a return on equity of 11.03% and a net margin of 1.07%. The company had revenue of $553.78 million during the quarter, compared to analysts’ expectations of $572.60 million. During the same quarter in the prior year, the company posted $0.46 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis.

Several research firms recently commented on ECHO. Cowen reissued an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of Echo Global Logistics in a research note on Thursday, July 25th. ValuEngine raised Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group set a $23.00 price objective on Echo Global Logistics and gave the company a “hold” rating in a research note on Friday, July 26th. Loop Capital downgraded Echo Global Logistics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $30.00 to $22.00 in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. downgraded Echo Global Logistics from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $22.00 to $26.00 in a research note on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $25.50.

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in Echo Global Logistics by 265.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,024 shares of the transportation company’s stock valued at $63,000 after acquiring an additional 2,196 shares during the period. Strs Ohio purchased a new position in Echo Global Logistics during the 3rd quarter valued at about $70,000. Quantamental Technologies LLC purchased a new position in Echo Global Logistics during the 2nd quarter valued at about $78,000. Convergence Investment Partners LLC purchased a new position in Echo Global Logistics during the 2nd quarter valued at about $119,000. Finally, First Trust Advisors LP purchased a new position in Echo Global Logistics during the 1st quarter valued at about $208,000. Institutional investors own 97.52% of the company’s stock.

Shares of NASDAQ:ECHO traded up $0.47 during midday trading on Monday, reaching $23.44. 184,900 shares of the company’s stock traded hands, compared to its average volume of 237,527. Echo Global Logistics has a 1 year low of $18.00 and a 1 year high of $27.96. The company has a market cap of $624.22 million, a P/E ratio of 14.47, a PEG ratio of 1.03 and a beta of 1.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The company has a fifty day simple moving average of $22.21 and a two-hundred day simple moving average of $21.47.

Echo Global Logistics Company Profile

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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