Okeanis Eco Tankers Corp. (NYSE:ECO) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analyst sentiment is cautious: Okeanis Eco Tankers has an average rating of "Hold" from six brokerages, with five holds and one buy. The average 12-month price target is about $59.52.
• Recent earnings topped expectations: The company reported $2.33 EPS on revenue of $170.16 million, beating analyst estimates on both metrics. Analysts now expect full-year EPS of 9.53.
• The company boosted its dividend: Okeanis Eco Tankers paid a quarterly dividend of $2.00 per share, up from $1.55 previously, implying an annualized yield of about 14.2%. However, the dividend payout ratio is high at 141.34%.

Shares of Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) have received an average recommendation of "Hold" from the six brokerages that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $59.5167.

A number of brokerages recently issued reports on ECO. B. Riley Financial increased their target price on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Pareto Securities lowered shares of Okeanis Eco Tankers from a "buy" rating to a "hold" rating and set a $57.50 price target for the company. in a research note on Monday, May 25th. Zacks Research cut shares of Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Wall Street Zen cut shares of Okeanis Eco Tankers from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Okeanis Eco Tankers in a research note on Thursday, June 18th.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several hedge funds have recently modified their holdings of the company. Encompass Capital Advisors LLC bought a new stake in shares of Okeanis Eco Tankers in the 4th quarter worth $27,416,000. Fearnley Asset Management AS bought a new position in Okeanis Eco Tankers during the fourth quarter valued at about $18,696,000. Marshall Wace LLP bought a new position in Okeanis Eco Tankers during the fourth quarter valued at about $10,911,000. JPMorgan Chase & Co. acquired a new position in Okeanis Eco Tankers during the fourth quarter worth about $5,222,000. Finally, Bank of America Corp DE grew its holdings in Okeanis Eco Tankers by 96.7% during the first quarter. Bank of America Corp DE now owns 278,305 shares of the company's stock worth $14,079,000 after acquiring an additional 136,782 shares during the period.

Okeanis Eco Tankers Trading Down 1.1%

Shares of ECO stock opened at $56.45 on Thursday. 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 1 year low of $23.34 and a 1 year high of $58.45. The stock has a fifty day moving average of $52.58 and a two-hundred day moving average of $48.71. The firm has a market capitalization of $2.20 billion, a PE ratio of 9.97 and a beta of -0.07.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $170.16 million for the quarter, compared to analyst estimates of $134.02 million. As a group, research analysts expect that Okeanis Eco Tankers will post 9.53 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 28th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 14.2%. 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 dividend payout ratio is 141.34%.

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.

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