Okeanis Eco Tankers Corp. (NYSE:ECO) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts have a “Moderate Buy” consensus on Okeanis Eco Tankers, with two buy ratings, one strong-buy rating and three holds. The average 12-month price target is $59.52, below the stock’s reported $60.23 price.
• The company reported strong quarterly results, posting $5.91 in EPS versus the $4.61 consensus estimate and revenue of $268.14 million, ahead of the $220.28 million forecast.
• Okeanis Eco Tankers increased its quarterly dividend to $5.25 per share, implying a $21 annualized payout and a 34.9% yield; however, its payout ratio is elevated at 195.9%.

Okeanis Eco Tankers Corp. (NYSE:ECO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six brokerages that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $59.5167.

Several equities research analysts have recently weighed in on the company. B. Riley Financial increased their price target on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Weiss Ratings raised Okeanis Eco Tankers from a "hold (c+)" rating to a "buy (b)" rating in a research note on Thursday, August 6th. Clarkson Capital cut Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Wall Street Zen raised shares of Okeanis Eco Tankers from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded shares of Okeanis Eco Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th.

Hedge Funds Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in Okeanis Eco Tankers during the second quarter valued at $25,000. Fifth Third Bancorp bought a new position in shares of Okeanis Eco Tankers in the 1st quarter worth about $29,000. Quarry LP bought a new position in shares of Okeanis Eco Tankers in the 3rd quarter worth about $29,000. Caitong International Asset Management Co. Ltd raised its position in shares of Okeanis Eco Tankers by 102.3% in 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 in the last quarter. Finally, State of Wyoming acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter valued at about $107,000.

Okeanis Eco Tankers Stock Performance

NYSE ECO opened at $60.23 on Monday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 5.62 and a beta of -0.15. Okeanis Eco Tankers has a twelve month low of $25.47 and a twelve month high of $65.87. The stock has a fifty day simple moving average of $55.47 and a 200 day simple moving average of $51.42. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $5.91 EPS for the quarter, topping the consensus estimate of $4.61 by $1.30. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%.The firm had revenue of $268.14 million for the quarter, compared to the consensus estimate of $220.28 million. Sell-side analysts expect that Okeanis Eco Tankers will post 15.33 EPS for the current year.

Okeanis Eco Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 14th will be paid a $5.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 34.9%. This is an increase from Okeanis Eco Tankers's previous quarterly dividend of $2.00. Okeanis Eco Tankers's payout ratio is currently 195.90%.

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.

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