B. Riley Research Analysts Cut Earnings Estimates for ECO

Okeanis Eco Tankers Corp. (NYSE:ECO) – Research analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for shares of Okeanis Eco Tankers in a note issued to investors on Wednesday, January 15th. B. Riley analyst L. Burke now anticipates that the company will post earnings of $3.13 per share for the year, down from their prior forecast of $3.19. B. Riley currently has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Okeanis Eco Tankers’ current full-year earnings is $3.19 per share. B. Riley also issued estimates for Okeanis Eco Tankers’ Q4 2024 earnings at $0.22 EPS.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Friday, November 8th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%. The firm had revenue of $84.93 million for the quarter, compared to the consensus estimate of $74.61 million.

Okeanis Eco Tankers Trading Up 1.6 %

Shares of NYSE ECO opened at $25.28 on Thursday. Okeanis Eco Tankers has a fifty-two week low of $18.79 and a fifty-two week high of $36.69. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. The company has a market cap of $813.86 million and a price-to-earnings ratio of 6.96. The business’s 50 day moving average price is $22.06 and its 200-day moving average price is $27.96.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.12%. The ex-dividend date was Monday, November 18th. Okeanis Eco Tankers’s payout ratio is 48.48%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ECO. Lighthouse Investment Partners LLC purchased a new position in shares of Okeanis Eco Tankers during the second quarter worth $2,086,000. Quadrature Capital Ltd purchased a new position in Okeanis Eco Tankers during the third quarter worth approximately $1,169,000. BNP Paribas Financial Markets grew its stake in shares of Okeanis Eco Tankers by 409.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock valued at $661,000 after buying an additional 16,280 shares during the period. Acadian Asset Management LLC purchased a new stake in Okeanis Eco Tankers in the 2nd quarter valued at about $370,000. Finally, Marshall Wace LLP acquired a new stake in shares of Okeanis Eco Tankers in the second quarter valued at $247,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.