Brokerages Set Okeanis Eco Tankers Corp. (NYSE:ECO) PT at $51.89

Okeanis Eco Tankers Corp. (NYSE:ECO) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $51.8875.

A number of brokerages have recently commented on ECO. Wall Street Zen lowered Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Zacks Research raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. B. Riley Financial raised their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Weiss Ratings lowered shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 25th.

Okeanis Eco Tankers Stock Performance

NYSE ECO opened at $48.97 on Wednesday. The firm’s fifty day moving average price is $52.03 and its two-hundred day moving average price is $44.79. The stock has a market cap of $1.91 billion, a PE ratio of 8.65 and a beta of -0.05. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. Okeanis Eco Tankers has a fifty-two week low of $21.27 and a fifty-two week high of $58.45.

Okeanis Eco Tankers (NYSE:ECO) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.59. The company had revenue of $170.17 million during the quarter, compared to analysts’ expectations of $134.02 million. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%. On average, equities analysts expect that Okeanis Eco Tankers will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $8.00 annualized dividend and a yield of 16.3%. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s dividend payout ratio is 141.34%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers in the second quarter worth approximately $25,000. Fifth Third Bancorp bought a new position in Okeanis Eco Tankers during the first quarter worth $29,000. Quarry LP bought a new stake in Okeanis Eco Tankers during the third quarter valued at $29,000. Caitong International Asset Management Co. Ltd grew its holdings in Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after acquiring an additional 532 shares during the period. Finally, State of Wyoming bought a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth about $107,000.

About Okeanis Eco Tankers

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.