Okeanis Eco Tankers Corp. Declares Quarterly Dividend of $0.35

Okeanis Eco Tankers Corp. (NYSE:ECO) recently declared a quarterly dividend, which was announced on Friday, February 21st. Shareholders who hold shares as of Monday, March 3rd, will receive a dividend payment of $0.35 per share on Monday, March 17th. This payout translates to an annualized dividend of $1.40, resulting in a yield of 6.40%. The ex-dividend date is also set for Monday, March 3rd.

Stock Performance of Okeanis Eco Tankers

During trading on the same day, Okeanis Eco Tankers’ stock experienced a decline of $0.56, bringing its price down to $21.88. The trading volume for the day was 644,415 shares, which surpasses the company’s average volume of 254,665 shares. With a market capitalization of $704.32 million, the stock has a price-to-earnings (PE) ratio of 6.47. Financially, the company holds a debt-to-equity ratio of 1.48, alongside a quick ratio of 1.34 and a current ratio of 1.69. Over the past year, Okeanis Eco Tankers has seen its stock price range from a low of $18.79 to a high of $36.69, with current moving averages at 50 days of $22.74 and 200 days of $26.67.

Recent Earnings Results

Okeanis Eco Tankers released its latest earnings report on Wednesday, February 19th. For the quarter, the company reported an earnings per share (EPS) of $0.41, surpassing analysts’ expectations which estimated a consensus of $0.22 by $0.19. The company's revenue for the quarter was reported at $85.19 million, which exceeded the anticipated figure of $82.46 million. Okeanis Eco Tankers achieved a return on equity of 25.19% and exhibited a net margin of 27.68%. Analysts collectively project that Okeanis Eco Tankers will deliver an EPS of 1.34 for the current fiscal year.

Analyst Ratings

In related news, investment firm B. Riley recently adjusted their target price for Okeanis Eco Tankers from $44.00 down to $40.00, maintaining a "buy" rating on the stock in their research note dated January 15th.

Company Overview

Founded in 2018 and based in Neo Faliro, Greece, Okeanis Eco Tankers is dedicated to the global shipping of petroleum products. The company manages a fleet of 14 tanker vessels, consisting of six modern Suezmax tankers and eight modern VLCC (Very Large Crude Carrier) tankers, focusing on the transport of crude oil.

Conclusion

With a strong dividend payout and positive earnings performance, Okeanis Eco Tankers presents a notable option for investors in the shipping sector. However, potential investors should consider expert analysis and market trends before making investment decisions.

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