Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Consensus Rating of “Hold” from Analysts

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO) have been given an average recommendation of “Hold” by the six brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $59.5167.

A number of research firms have commented on ECO. Wall Street Zen downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. B. Riley Financial raised their price target on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Thursday, June 18th. Pareto Securities lowered shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective on the stock. in a research report on Monday, May 25th. Finally, Zacks Research cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th.

Institutional Trading of Okeanis Eco Tankers

Several large investors have recently modified their holdings of ECO. BNP Paribas Financial Markets acquired a new position in shares of Okeanis Eco Tankers during the 2nd quarter worth approximately $25,000. Fifth Third Bancorp purchased a new stake in Okeanis Eco Tankers in the 1st quarter valued at approximately $29,000. Quarry LP acquired a new stake in Okeanis Eco Tankers during the 3rd 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 valued at $36,000 after buying an additional 532 shares during the last quarter. Finally, State of Wyoming purchased a new position in Okeanis Eco Tankers during the second quarter worth $107,000.

Okeanis Eco Tankers Price Performance

Shares of NYSE:ECO opened at $58.26 on Thursday. The business’s 50 day simple moving average is $52.84 and its 200-day simple moving average is $49.53. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 10.29 and a beta of -0.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. Okeanis Eco Tankers has a 12 month low of $23.34 and a 12 month high of $59.80.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.59. The firm had revenue of $170.16 million during the quarter, compared to the consensus estimate of $134.02 million. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%. As a group, equities analysts forecast that Okeanis Eco Tankers will post 9.53 earnings per share for the current fiscal year.

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 given a dividend of $2.00 per share. The ex-dividend date was Thursday, May 28th. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 dividend on an annualized basis and a yield of 13.7%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is presently 141.34%.

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.