Okeanis Eco Tankers (NYSE:ECO) Announces Earnings Results, Beats Estimates By $0.59 EPS

Okeanis Eco Tankers (NYSE:ECO) announced its earnings results on Wednesday. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.59, FiscalAI reports. The business had revenue of $170.17 million for the quarter, compared to analysts’ expectations of $134.02 million. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%.

Okeanis Eco Tankers Stock Performance

Okeanis Eco Tankers stock traded down $2.14 during trading hours on Wednesday, hitting $54.51. 921,967 shares of the stock traded hands, compared to its average volume of 362,711. The firm’s 50 day moving average price is $50.71 and its 200-day moving average price is $42.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 1.39. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 15.15 and a beta of 0.09. Okeanis Eco Tankers has a 1 year low of $21.27 and a 1 year high of $58.45.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, March 3rd were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 11.4%. The ex-dividend date was Tuesday, March 3rd. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $0.75. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 165.78%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. B. Riley Financial raised their price target on shares of Okeanis Eco Tankers from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 29th. Clarkson Capital upgraded Okeanis Eco Tankers from a “neutral” rating to a “buy” rating and set a $46.05 price objective for the company in a report on Tuesday, January 27th. Finally, Weiss Ratings cut Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.35.

Institutional Investors Weigh In On Okeanis Eco Tankers

Large investors have recently bought and sold shares of the company. Quarry LP acquired a new position in Okeanis Eco Tankers in the 3rd quarter worth approximately $29,000. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers during the 2nd quarter valued at approximately $25,000. State of Wyoming purchased a new stake in shares of Okeanis Eco Tankers in the 2nd quarter valued at $107,000. Verition Fund Management LLC purchased a new stake in shares of Okeanis Eco Tankers in the 3rd quarter valued at $211,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Okeanis Eco Tankers in the third quarter worth $242,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.