The Echo Global Logistics, Inc. (ECHO) Posts Earnings Results, Misses Estimates By $0.04 EPS

The Echo Global Logistics, Inc. (ECHO) Posts  Earnings Results, Misses Estimates By $0.04 EPS

Echo Global Logistics, Inc. (NASDAQ:ECHO) issued its quarterly earnings results on Tuesday. The transportation company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04), Bloomberg Earnings reports. Echo Global Logistics had a negative net margin of 0.21% and a positive return on equity of 3.22%. The firm had revenue of $509.50 million for the quarter, compared to analysts’ expectations of $473.44 million. During the same period in the prior year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis.

Shares of Echo Global Logistics (NASDAQ ECHO) traded up 0.25% during mid-day trading on Wednesday, reaching $19.70. The company had a trading volume of 678,614 shares. Echo Global Logistics has a one year low of $13.00 and a one year high of $28.90. The firm has a 50 day moving average of $18.25 and a 200-day moving average of $18.01. The stock’s market capitalization is $562.12 million.

A number of brokerages have recently commented on ECHO. Macquarie reaffirmed an “outperform” rating and set a $29.00 price target on shares of Echo Global Logistics in a research report on Monday, July 10th. Zacks Investment Research cut Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Cowen and Company reaffirmed a “buy” rating and set a $19.00 price target on shares of Echo Global Logistics in a research report on Wednesday, October 4th. ValuEngine raised Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, J P Morgan Chase & Co upped their price target on Echo Global Logistics from $19.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.00.

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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