Okeanis Eco Tankers (NYSE:ECO) Posts Quarterly Earnings Results, Beats Estimates By $2.94 EPS

Okeanis Eco Tankers (NYSE:ECO) posted 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 return on equity of 62.06% and a net margin of 56.92%. The business had revenue of $501.50 million for the quarter, compared to analyst estimates of $220.83 million.

Okeanis Eco Tankers Price Performance

Shares of ECO stock opened at $85.60 on Thursday. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. Okeanis Eco Tankers has a 12-month low of $31.75 and a 12-month high of $102.56. The firm has a fifty day moving average of $85.59 and a 200-day moving average of $60.72. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 7.99 and a beta of -0.32.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 23rd will be issued a $7.00 dividend. This is a positive change from Okeanis Eco Tankers’s previous quarterly dividend of $5.25. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $28.00 annualized dividend and a dividend yield of 32.7%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 195.90%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of Okeanis Eco Tankers stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $59.99, for a total transaction of $4,104,515.80. Following the transaction, the director directly owned 1,347,038 shares in the company, valued at approximately $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 SEC, which is accessible through this link.

Key Okeanis Eco Tankers News

Here’s some of the latest news about ECO:

• Positive Sentiment: Okeanis reported third-quarter earnings of $7.67 per share, well above analyst estimates of $3.69–$4.73 and up from $0.77 a year earlier. Revenue reached $501.5 million, compared with expectations of $220.83 million; the company also reported a 56.92% net margin. The strong results are the clearest positive catalyst. Company Q3 results
• Positive Sentiment: The board declared a $7.00-per-share quarterly dividend, a 33.3% increase from $5.25. Payment is scheduled for December 1 to shareholders of record on November 23; the company cited an annualized yield of 32.7%. The larger payout may attract income-focused investors, though the quoted yield reflects the current dividend rate and share price. Dividend announcement

About Okeanis Eco Tankers

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.