Okeanis Eco Tankers (NYSE:ECO) Releases Earnings Results, Beats Expectations By $1.30 EPS

Okeanis Eco Tankers (NYSE:ECO) announced its earnings results on Tuesday. The company reported $5.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $1.30, FiscalAI reports. Okeanis Eco Tankers had a net margin of 41.26% and a return on equity of 37.13%.

Okeanis Eco Tankers Price Performance

Shares of ECO stock traded down $1.92 during trading hours on Tuesday, reaching $59.46. The company’s stock had a trading volume of 990,387 shares, compared to its average volume of 479,681. The firm’s 50 day simple moving average is $53.19 and its 200-day simple moving average is $49.98. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 10.50 and a beta of -0.15. Okeanis Eco Tankers has a fifty-two week low of $23.82 and a fifty-two week high of $61.53. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were paid a dividend of $2.00 per share. The ex-dividend date was Thursday, May 28th. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 annualized dividend and a yield of 13.5%. Okeanis Eco Tankers’s dividend payout ratio is currently 141.34%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price target on the stock. in a research report on Monday, May 25th. Zacks Research lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. B. Riley Financial lifted their price objective on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Thursday, June 18th. Finally, Wall Street Zen lowered Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.52.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of institutional investors have recently modified their holdings of ECO. Jain Global LLC acquired a new stake in Okeanis Eco Tankers in the fourth quarter valued at approximately $410,000. Jump Financial LLC bought a new position in shares of Okeanis Eco Tankers in the 4th quarter worth $362,000. ExodusPoint Capital Management LP bought a new position in shares of Okeanis Eco Tankers in the 4th quarter worth $489,000. Magnetar Financial LLC acquired a new stake in Okeanis Eco Tankers in the 4th quarter valued at $481,000. Finally, LPL Financial LLC bought a new stake in Okeanis Eco Tankers during the 4th quarter valued at $343,000.

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.