Okeanis Eco Tankers Corp. (NYSE:ECO) Plans Dividend Increase - $7.00 Per Share

Key Points

• Okeanis Eco Tankers raised its quarterly dividend by 33.3%, from $5.25 to $7.00 per share. The payment is scheduled for December 1 to shareholders of record November 23, implying a $28 annualized dividend and a reported 32.7% yield.
• The company reported quarterly EPS of $7.67, beating estimates of $4.73, and revenue of $501.5 million versus expectations of $220.83 million.
• Analysts have a consensus Hold rating and a $67.85 consensus price target; the shares opened at $85.60.

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) announced a quarterly dividend on Wednesday, November 11th. Stockholders of record on Monday, November 23rd will be paid a dividend of $7.00 per share on Tuesday, December 1st. This represents a $28.00 annualized dividend and a dividend yield of 32.7%. The ex-dividend date of this dividend is Monday, November 23rd. This is a 33.3% increase from Okeanis Eco Tankers's previous quarterly dividend of $5.25.

Okeanis Eco Tankers Stock Performance

Shares of Okeanis Eco Tankers stock opened at $85.60 on Thursday. Okeanis Eco Tankers has a 52 week low of $31.75 and a 52 week high of $102.56. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average price of $85.59 and a 200-day moving average price of $60.72. The company has a market cap of $3.34 billion, a PE ratio of 7.99 and a beta of -0.32.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its earnings results on Wednesday, November 11th. The company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.73 by $2.94. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%. The company had revenue of $501.50 million for the quarter, compared to analysts' expectations of $220.83 million. Equities analysts anticipate that Okeanis Eco Tankers will post 15.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ECO. Weiss Ratings upgraded Okeanis Eco Tankers from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, September 9th. Zacks Research downgraded shares of Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. B. Riley Financial upped their target price on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, October 5th. Finally, Wall Street Zen upgraded shares of Okeanis Eco Tankers from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Okeanis Eco Tankers has a consensus rating of "Hold" and a consensus price target of $67.85.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a Greece-based shipping company that owns and operates crude oil tankers. Its fleet includes very large crude carriers (VLCCs) and Suezmax vessels, which transport crude oil between production regions and markets around the world. The company provides seaborne transportation services to energy companies and commodity traders, deploying its vessels through spot-market voyages and charter arrangements. Its ships are designed to meet modern efficiency and environmental standards.

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