Okeanis Eco Tankers (NYSE:ECO) Releases Earnings Results, Beats Estimates By $0.48 EPS

Okeanis Eco Tankers (NYSE:ECO) announced its quarterly earnings data on Wednesday. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.48, FiscalAI reports. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%.The business had revenue of $91.33 million during the quarter, compared to the consensus estimate of $98.45 million.

Okeanis Eco Tankers Trading Up 4.1%

NYSE ECO traded up $1.76 on Wednesday, hitting $44.47. The company’s stock had a trading volume of 331,512 shares, compared to its average volume of 424,535. The company’s 50-day moving average is $37.53 and its 200 day moving average is $33.27. The firm has a market cap of $1.43 billion, a PE ratio of 18.61 and a beta of 0.04. Okeanis Eco Tankers has a 1-year low of $17.91 and a 1-year high of $44.93. The company has a quick ratio of 1.69, a current ratio of 2.00 and a debt-to-equity ratio of 1.33.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Clarkson Capital raised shares of 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Monday, December 29th. UBS Group lowered shares of Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research report on Friday, November 14th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 15th. Finally, Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $40.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new stake in shares of Okeanis Eco Tankers in the 4th quarter valued at about $1,984,000. Numerai GP LLC acquired a new position in shares of Okeanis Eco Tankers in the fourth quarter worth approximately $713,000. Millennium Management LLC boosted its holdings in Okeanis Eco Tankers by 647.5% in the fourth quarter. Millennium Management LLC now owns 124,109 shares of the company’s stock valued at $4,200,000 after acquiring an additional 107,505 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Okeanis Eco Tankers during the 4th quarter valued at approximately $1,756,000. Finally, Boothbay Fund Management LLC acquired a new stake in Okeanis Eco Tankers during the 4th quarter valued at approximately $871,000.

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.