B. Riley Reduces Earnings Estimates for Okeanis Eco Tankers

Okeanis Eco Tankers Corp. (NYSE:ECO) – Investment analysts at B. Riley dropped their FY2024 earnings per share estimates for Okeanis Eco Tankers in a research report issued to clients and investors on Wednesday, January 15th. B. Riley analyst L. Burke now forecasts that the company will post earnings per share of $3.13 for the year, down from their prior forecast of $3.19. B. Riley has a “Buy” rating and a $40.00 price objective 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 Stock Performance

Shares of ECO stock opened at $23.88 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.34 and a current ratio of 1.69. Okeanis Eco Tankers has a 1 year low of $18.79 and a 1 year high of $36.69. The stock’s 50-day moving average is $22.02 and its two-hundred day moving average is $27.91. The firm has a market cap of $768.79 million and a price-to-earnings ratio of 6.58.

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

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of institutional investors have recently added to or reduced their stakes in ECO. Lighthouse Investment Partners LLC acquired a new stake in shares of Okeanis Eco Tankers during the 2nd quarter valued at approximately $2,086,000. Quadrature Capital Ltd acquired a new position in shares of Okeanis Eco Tankers during the 3rd quarter worth approximately $1,169,000. BNP Paribas Financial Markets raised its holdings in Okeanis Eco Tankers by 409.9% in the 3rd 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 during the last quarter. Acadian Asset Management LLC acquired a new position in Okeanis Eco Tankers in the 2nd quarter valued at $370,000. Finally, Marshall Wace LLP acquired a new position in Okeanis Eco Tankers in the 2nd quarter valued at $247,000.

Okeanis Eco Tankers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date of this dividend was Monday, November 18th. Okeanis Eco Tankers’s dividend payout ratio is currently 48.48%.

About Okeanis Eco Tankers

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.