Okeanis Eco Tankers Corp. (NYSE:ECO) Receives $51.89 Consensus Price Target from Brokerages

Okeanis Eco Tankers Corp. (NYSE:ECO) has received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $51.8875.

ECO has been the topic of a number of research reports. Zacks Research upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Clarkson Capital lowered shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Pareto Securities cut 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, Weiss Ratings lowered shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th.

Hedge Funds Weigh In On Okeanis Eco Tankers

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp bought a new stake in Okeanis Eco Tankers during the first quarter valued at approximately $29,000. Quarry LP purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 worth $36,000 after acquiring an additional 532 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Okeanis Eco Tankers during the 2nd quarter valued at $25,000. Finally, Royal Bank of Canada increased its stake in shares of Okeanis Eco Tankers by 29,762.5% in the 1st quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock worth $121,000 after purchasing an additional 2,381 shares in the last quarter.

Okeanis Eco Tankers Stock Performance

Shares of ECO opened at $47.80 on Wednesday. The company has a 50-day simple moving average of $52.07 and a two-hundred day simple moving average of $44.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.56. The firm has a market capitalization of $1.87 billion, a PE ratio of 8.45 and a beta of -0.05. Okeanis Eco Tankers has a one year low of $21.27 and a one year high of $58.45.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.59. The firm had revenue of $170.17 million during the quarter, compared to analyst estimates of $134.02 million. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%. On average, analysts anticipate that Okeanis Eco Tankers will post 9.53 EPS for the current fiscal year.

Okeanis Eco Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 28th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 16.7%. The ex-dividend date of this dividend was Thursday, May 28th. This is an increase from Okeanis Eco Tankers’s previous quarterly dividend of $1.55. Okeanis Eco Tankers’s payout ratio is currently 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.