Okeanis Eco Tankers (NYSE:ECO) Releases Earnings Results, Beats Expectations By $2.94 EPS

Okeanis Eco Tankers (NYSE:ECO) announced its quarterly earnings results on Wednesday. The company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.73 by $2.94, Zacks reports. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%.

Okeanis Eco Tankers Stock Up 4.8%

Shares of NYSE ECO traded up $3.93 during mid-day trading on Wednesday, reaching $85.60. 786,534 shares of the company’s stock were exchanged, compared to its average volume of 577,962. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 7.99 and a beta of -0.32. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $85.24 and a 200 day simple moving average of $60.48. Okeanis Eco Tankers has a twelve month low of $31.75 and a twelve month high of $102.56.

Analyst Ratings Changes

A number of research analysts recently issued reports on ECO shares. 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. Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Finally, B. Riley Financial increased their target price on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.85.

Insider Buying and Selling at Okeanis Eco Tankers

In related news, Director Financial Lp Qvt sold 68,420 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $59.99, for a total value of $4,104,515.80. Following the completion of the transaction, the director directly owned 1,347,038 shares in the company, valued at approximately $80,808,809.62. The trade was a 4.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

About Okeanis Eco Tankers

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.