Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Okeanis Eco Tankers Corp. (NYSE:ECO) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $51.8875.

A number of brokerages recently commented on ECO. Zacks Research upgraded Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. B. Riley Financial upped their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wall Street Zen downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Thursday, June 18th. Finally, Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price for the company. in a report on Monday, May 25th.

Okeanis Eco Tankers Stock Performance

Shares of ECO stock opened at $49.67 on Friday. 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. The stock has a 50 day moving average price of $52.54 and a two-hundred day moving average price of $46.15. The company has a market capitalization of $1.94 billion, a P/E ratio of 8.78 and a beta of -0.05.

Okeanis Eco Tankers (NYSE:ECO) last announced 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. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The firm had revenue of $170.17 million during the quarter, compared to the consensus estimate of $134.02 million. Analysts expect that Okeanis Eco Tankers will post 9.53 earnings per share for the current year.

Okeanis Eco Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 28th were issued a dividend of $2.00 per share. This is a boost from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. This represents a $8.00 dividend on an annualized basis and a dividend yield of 16.1%. The ex-dividend date was Thursday, May 28th. Okeanis Eco Tankers’s dividend payout ratio is currently 141.34%.

Hedge Funds Weigh In On Okeanis Eco Tankers

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