Okeanis Eco Tankers (NYSE:ECO) Rating Lowered to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Okeanis Eco Tankers (ECO) from a "strong-buy" to a "hold."
• Analyst sentiment is mixed — three analysts rate the stock as Buy and three as Hold, with an average rating of "Moderate Buy" and an average price target of $43.35.
• Financial snapshot: ECO reported $1.78 EPS (above the $1.30 estimate) but missed revenue expectations; the stock trades near $51 with a 12‑month range of $21.14–$57.29, a market cap of about $1.99B and a PE of 13.65.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Clarkson Capital raised Okeanis Eco Tankers from a "neutral" rating to a "buy" rating and set a $46.05 target price for the company in a report on Tuesday, January 27th. B. Riley Financial upped their target price on Okeanis Eco Tankers from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Weiss Ratings cut Okeanis Eco Tankers from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, March 25th. Finally, Wall Street Zen raised Okeanis Eco Tankers from a "buy" rating to a "strong-buy" rating in a report on Sunday, March 29th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $43.35.

Okeanis Eco Tankers Price Performance

Shares of ECO opened at $51.04 on Monday. Okeanis Eco Tankers has a 12-month low of $21.14 and a 12-month high of $57.29. The business has a 50-day simple moving average of $48.84 and a two-hundred day simple moving average of $40.21. The company has a quick ratio of 1.39, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The stock has a market cap of $1.99 billion, a PE ratio of 13.65 and a beta of -0.07.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.48. Okeanis Eco Tankers had a return on equity of 26.63% and a net margin of 31.40%.The business had revenue of $91.33 million during the quarter, compared to analysts' expectations of $98.45 million. Analysts anticipate that Okeanis Eco Tankers will post 4.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Okeanis Eco Tankers

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Okeanis Eco Tankers in the third quarter valued at about $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company's stock valued at $36,000 after buying an additional 532 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $25,000. State of Wyoming acquired a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $107,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Okeanis Eco Tankers in the first quarter valued at about $358,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.