B. Riley Lowers Earnings Estimates for Okeanis Eco Tankers

Okeanis Eco Tankers Corp. (NYSE:ECO) – Stock analysts at B. Riley reduced their FY2024 earnings per share (EPS) estimates for shares of Okeanis Eco Tankers in a report issued 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 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 Trading Down 1.0 %

Shares of NYSE ECO opened at $23.61 on Thursday. The firm has a 50 day moving average price of $22.02 and a two-hundred day moving average price of $27.86. The stock has a market cap of $760.01 million and a P/E ratio of 6.50. Okeanis Eco Tankers has a 52-week low of $18.79 and a 52-week high of $36.69. 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 (NYSE:ECO) last released its quarterly earnings data on Friday, November 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.36. Okeanis Eco Tankers had a return on equity of 27.19% and a net margin of 29.25%. The company had revenue of $84.93 million during the quarter, compared to the consensus estimate of $74.61 million.

Okeanis Eco Tankers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.80 dividend on an annualized basis and a yield of 7.62%. Okeanis Eco Tankers’s payout ratio is 48.48%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in shares of Okeanis Eco Tankers in the second quarter valued at about $370,000. Hsbc Holdings PLC boosted its holdings in Okeanis Eco Tankers by 123.9% in the second quarter. Hsbc Holdings PLC now owns 178,056 shares of the company’s stock valued at $5,692,000 after acquiring an additional 98,528 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Okeanis Eco Tankers during the 2nd quarter valued at approximately $1,767,000. Marshall Wace LLP bought a new position in Okeanis Eco Tankers during the 2nd quarter worth approximately $247,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Okeanis Eco Tankers in the 2nd quarter worth approximately $2,086,000.

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.