Okeanis Eco Tankers (NYSE:ECO) Announces Quarterly Earnings Results, Beats Estimates By $2.94 EPS

Okeanis Eco Tankers (NYSE:ECO) released its earnings results on Wednesday. The company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.73 by $2.94, Zacks reports. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%.

Okeanis Eco Tankers Stock Performance

Shares of ECO traded up $3.93 on Wednesday, reaching $85.60. 759,878 shares of the company’s stock traded hands, compared to its average volume of 577,199. The stock has a market cap of $3.34 billion, a PE ratio of 7.99 and a beta of -0.32. Okeanis Eco Tankers has a 52-week low of $31.75 and a 52-week high of $102.56. The company has a current ratio of 4.43, a quick ratio of 4.13 and a debt-to-equity ratio of 0.76. The stock’s 50 day simple moving average is $85.24 and its two-hundred day simple moving average is $60.48.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ECO shares. Weiss Ratings upgraded Okeanis Eco Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 9th. Zacks Research downgraded Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Wall Street Zen raised shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, B. Riley Financial lifted their price target on shares of Okeanis Eco Tankers from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $67.85.

Insider Buying and Selling

In other Okeanis Eco Tankers news, Director Financial Lp Qvt sold 68,420 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $59.99, for a total value of $4,104,515.80. Following the transaction, the director directly owned 1,347,038 shares in the company, valued at $80,808,809.62. The trade was a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a Greece-based shipping company that owns and operates crude oil tankers. Its fleet includes very large crude carriers (VLCCs) and Suezmax vessels, which transport crude oil between production regions and markets around the world. The company provides seaborne transportation services to energy companies and commodity traders, deploying its vessels through spot-market voyages and charter arrangements. Its ships are designed to meet modern efficiency and environmental standards.