Okeanis Eco Tankers (NYSE:ECO) Releases Earnings Results, Beats Estimates By $0.19 EPS

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) issued its earnings results on Wednesday. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.19, Zacks reports. The company had revenue of $85.19 million for the quarter, compared to the consensus estimate of $82.46 million. Okeanis Eco Tankers had a return on equity of 25.40% and a net margin of 27.68%.

Okeanis Eco Tankers Price Performance

NYSE ECO traded down $0.56 during trading on Friday, hitting $21.88. 684,525 shares of the stock traded hands, compared to its average volume of 200,265. The company has a market capitalization of $704.32 million and a P/E ratio of 6.47. The firm has a 50-day simple moving average of $22.77 and a 200-day simple moving average of $26.62. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 1.46. Okeanis Eco Tankers has a 12-month low of $18.79 and a 12-month high of $36.69.

Okeanis Eco Tankers Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Monday, March 3rd. Okeanis Eco Tankers's dividend payout ratio is presently 52.07%.

Wall Street Analyst Weigh In

Separately, B. Riley cut their price target on Okeanis Eco Tankers from $44.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, January 15th.

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.