B. Riley Reduces Earnings Estimates for Okeanis Eco Tankers

Okeanis Eco Tankers Corp. (NYSE:ECO) – Equities research analysts at B. Riley cut their FY2024 EPS estimates for shares of Okeanis Eco Tankers in a research note issued to investors on Wednesday, January 15th. B. Riley analyst L. Burke now forecasts that the company will earn $3.13 per share for the year, down from their prior estimate of $3.19. B. Riley currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for Okeanis Eco Tankers’ current full-year earnings is $3.19 per share. B. Riley also issued estimates for Okeanis Eco Tankers’ Q4 2024 earnings at $0.22 EPS.

Okeanis Eco Tankers Price Performance

ECO opened at $23.88 on Thursday. The firm has a market cap of $768.79 million and a price-to-earnings ratio of 6.58. Okeanis Eco Tankers has a fifty-two week low of $18.79 and a fifty-two week high of $36.69. The company’s 50-day moving average price is $22.02 and its 200 day moving average price is $27.91. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 1.48.

Okeanis Eco Tankers (NYSE:ECO) last issued its earnings results on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.36. The business had revenue of $84.93 million for the quarter, compared to analyst estimates of $74.61 million. Okeanis Eco Tankers had a net margin of 29.25% and a return on equity of 27.19%.

Okeanis Eco Tankers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, November 18th. This represents a $1.80 annualized dividend and a yield of 7.54%. Okeanis Eco Tankers’s dividend payout ratio (DPR) is 48.48%.

Institutional Investors Weigh In On Okeanis Eco Tankers

Several institutional investors and hedge funds have recently bought and sold shares of ECO. Hsbc Holdings PLC raised its stake in Okeanis Eco Tankers by 123.9% during the second quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock worth $5,692,000 after acquiring an additional 98,528 shares during the period. Lighthouse Investment Partners LLC bought a new position in Okeanis Eco Tankers in the 2nd quarter worth about $2,086,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Okeanis Eco Tankers in the second quarter valued at approximately $1,767,000. Quadrature Capital Ltd bought a new position in shares of Okeanis Eco Tankers in the third quarter valued at approximately $1,169,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Okeanis Eco Tankers by 409.9% in the third quarter. BNP Paribas Financial Markets now owns 20,252 shares of the company’s stock valued at $661,000 after acquiring an additional 16,280 shares in the last quarter.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp., a shipping company, owns and operates tanker vessels worldwide. It operates a fleet of 14 tanker vessels comprising six modern Suezmax tankers and eight modern VLCC tankers focusing on the transportation of crude oil. The company was incorporated in 2018 and is based in Neo Faliro, Greece.