Okeanis Eco Tankers (NYSE:ECO) Releases Earnings Results

Okeanis Eco Tankers (NYSE:ECO) announced its quarterly earnings results on Wednesday. The company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.73 by $2.94, Zacks reports. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%.

Okeanis Eco Tankers Trading Up 4.8%

Shares of ECO stock traded up $3.93 on Wednesday, hitting $85.60. The company had a trading volume of 759,878 shares, compared to its average volume of 577,199. The firm has a market cap of $3.34 billion, a P/E ratio of 7.99 and a beta of -0.32. The stock’s 50-day moving average is $85.24 and its two-hundred day moving average is $60.48. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.13 and a current ratio of 4.43. Okeanis Eco Tankers has a twelve month low of $31.75 and a twelve month high of $102.56.

Insider Activity

In related news, Director Financial Lp Qvt sold 68,420 shares of Okeanis Eco Tankers stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $59.99, for a total value of $4,104,515.80. Following the transaction, the director directly owned 1,347,038 shares of the company’s stock, valued at $80,808,809.62. The trade was a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ECO. Wall Street Zen raised Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. B. Riley Financial upped their target price on Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Weiss Ratings upgraded Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, September 9th. Finally, Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.85.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a Greece-based shipping company that owns and operates crude oil tankers. Its fleet includes very large crude carriers (VLCCs) and Suezmax vessels, which transport crude oil between production regions and markets around the world. The company provides seaborne transportation services to energy companies and commodity traders, deploying its vessels through spot-market voyages and charter arrangements. Its ships are designed to meet modern efficiency and environmental standards.