Zacks: Analysts Anticipate Echo Global Logistics, Inc. (NASDAQ:ECHO) Will Announce Earnings of $0.42 Per Share

Equities analysts expect Echo Global Logistics, Inc. (NASDAQ:ECHO) to post earnings of $0.42 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Echo Global Logistics’ earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.44. Echo Global Logistics posted earnings of $0.46 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 8.7%. The firm is expected to issue its next earnings report after the market closes on Wednesday, July 24th.

According to Zacks, analysts expect that Echo Global Logistics will report full year earnings of $1.78 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.85. For the next year, analysts expect that the company will post earnings of $1.90 per share, with EPS estimates ranging from $1.80 to $2.05. Zacks’ earnings per share 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, April 24th. The transportation company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Echo Global Logistics had a net margin of 1.15% and a return on equity of 11.64%. The company had revenue of $538.10 million during the quarter, compared to the consensus estimate of $549.32 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Echo Global Logistics’s revenue for the quarter was down 6.8% on a year-over-year basis.



Several brokerages have recently weighed in on ECHO. Cowen increased their target price on shares of ServiceNow from $260.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Morgan Stanley set a $36.00 target price on shares of ArcBest and gave the stock a “hold” rating in a research note on Monday, July 8th. Susquehanna Bancshares downgraded shares of Echo Global Logistics from a “positive” rating to a “neutral” rating in a research note on Wednesday, April 10th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.40.

NASDAQ ECHO remained flat at $$19.13 during trading hours on Monday. 93,900 shares of the company’s stock traded hands, compared to its average volume of 236,714. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.55. Echo Global Logistics has a one year low of $18.83 and a one year high of $36.75. The company has a market capitalization of $533.67 million, a PE ratio of 11.81, a P/E/G ratio of 0.72 and a beta of 1.95. The firm has a fifty day moving average price of $19.83.

A number of hedge funds and other institutional investors have recently bought and sold shares of ECHO. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Echo Global Logistics by 46.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,626 shares of the transportation company’s stock worth $65,000 after purchasing an additional 828 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Echo Global Logistics by 1,316.8% during the first quarter. BNP Paribas Arbitrage SA now owns 5,823 shares of the transportation company’s stock worth $144,000 after purchasing an additional 5,412 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Echo Global Logistics during the fourth quarter worth about $165,000. Metropolitan Life Insurance Co. NY raised its holdings in Echo Global Logistics by 388.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,186 shares of the transportation company’s stock worth $187,000 after purchasing an additional 7,304 shares in the last quarter. Finally, Bailard Inc. purchased a new position in Echo Global Logistics during the first quarter worth about $201,000. 97.99% of the stock is owned by hedge funds and other institutional investors.

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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