What is B. Riley's Estimate for ECO FY2024 Earnings?

Okeanis Eco Tankers Corp. (NYSE:ECO - Free Report) - Equities researchers at B. Riley decreased their FY2024 earnings per share (EPS) estimates for Okeanis Eco Tankers in a research note issued to investors on Wednesday, January 15th. B. Riley analyst L. Burke now anticipates that the company will post earnings of $3.13 per share for the year, down from their previous 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 (NYSE:ECO - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported $0.45 earnings per share for the quarter, beating 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%.

Okeanis Eco Tankers Trading Down 5.5 %

Shares of Okeanis Eco Tankers stock traded down $1.38 during trading on Thursday, hitting $23.88. The stock had a trading volume of 323,316 shares, compared to its average volume of 302,841. Okeanis Eco Tankers has a 12 month low of $18.79 and a 12 month high of $36.69. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.69 and a quick ratio of 1.34. The firm's fifty day simple moving average is $22.02 and its 200-day simple moving average is $27.91. The stock has a market cap of $768.79 million and a PE ratio of 6.58.

Okeanis Eco Tankers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.54%. The ex-dividend date was Monday, November 18th. Okeanis Eco Tankers's payout ratio is currently 48.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ECO. Public Employees Retirement System of Ohio purchased a new position in Okeanis Eco Tankers during the 3rd quarter valued at $383,000. Jane Street Group LLC bought a new stake in shares of Okeanis Eco Tankers during the third quarter worth $206,000. Wexford Capital LP boosted its stake in shares of Okeanis Eco Tankers by 7.1% during the third quarter. Wexford Capital LP now owns 22,204 shares of the company's stock valued at $728,000 after purchasing an additional 1,472 shares during the period. Quadrature Capital Ltd bought a new position in shares of Okeanis Eco Tankers in the third quarter worth about $1,169,000. Finally, PDT Partners LLC grew its holdings in shares of Okeanis Eco Tankers by 61.5% in the third quarter. PDT Partners LLC now owns 20,254 shares of the company's stock worth $663,000 after purchasing an additional 7,715 shares during 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.