Okeanis Eco Tankers (NYSE:ECO) Posts Earnings Results, Beats Expectations By $0.48 EPS

Okeanis Eco Tankers (NYSE:ECO) issued its earnings results on Wednesday. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.30 by $0.48, FiscalAI reports. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%.The company had revenue of $91.33 million during the quarter, compared to the consensus estimate of $98.45 million.

Okeanis Eco Tankers Price Performance

Okeanis Eco Tankers stock traded up $1.76 during mid-day trading on Wednesday, reaching $44.47. 331,512 shares of the company were exchanged, compared to its average volume of 424,535. The firm has a market cap of $1.43 billion, a PE ratio of 18.61 and a beta of 0.04. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.00 and a quick ratio of 1.69. The company has a fifty day simple moving average of $37.53 and a 200-day simple moving average of $33.27. Okeanis Eco Tankers has a 12 month low of $17.91 and a 12 month high of $44.93.

Analyst Ratings Changes

ECO has been the topic of several research reports. UBS Group downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a report on Friday, November 14th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. B. Riley Financial boosted their price objective on Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research report on Monday, December 29th. Finally, Zacks Research cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.02.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers during the second quarter worth about $25,000. Quarry LP acquired a new stake in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $29,000. State of Wyoming bought a new position in Okeanis Eco Tankers in the second quarter valued at approximately $107,000. Verition Fund Management LLC acquired a new position in Okeanis Eco Tankers during the third quarter valued at approximately $211,000. Finally, Citadel Advisors LLC acquired a new position in Okeanis Eco Tankers during the third quarter valued at approximately $242,000.

Okeanis Eco Tankers Company Profile

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.