Equities analysts expect that Tsakos Energy Navigation Ltd (NYSE:TNP) will post sales of $103.48 million for the current quarter, according to Zacks. Five analysts have issued estimates for Tsakos Energy Navigation’s earnings. The highest sales estimate is $107.40 million and the lowest is $98.40 million. Tsakos Energy Navigation posted sales of $108.16 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.3%. The firm is expected to report its next earnings report on Friday, May 11th.
According to Zacks, analysts expect that Tsakos Energy Navigation will report full year sales of $438.95 million for the current year, with estimates ranging from $426.05 million to $471.62 million. For the next fiscal year, analysts anticipate that the firm will post sales of $498.84 million per share, with estimates ranging from $420.38 million to $570.46 million. Zacks’ sales averages are an average based on a survey of analysts that cover Tsakos Energy Navigation.
Tsakos Energy Navigation (NYSE:TNP) last announced its quarterly earnings data on Monday, March 12th. The shipping company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.07. The company had revenue of $106.64 million during the quarter, compared to analyst estimates of $110.06 million. Tsakos Energy Navigation had a net margin of 1.44% and a return on equity of 1.35%.
Several brokerages have weighed in on TNP. Morgan Stanley decreased their price objective on shares of Tsakos Energy Navigation from $5.50 to $4.00 and set an “overweight” rating for the company in a report on Monday, February 12th. ValuEngine lowered shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Stifel Nicolaus set a $6.00 price objective on shares of Tsakos Energy Navigation and gave the stock a “buy” rating in a report on Wednesday, January 24th. JPMorgan Chase decreased their price objective on shares of Tsakos Energy Navigation from $5.50 to $5.00 and set an “overweight” rating for the company in a report on Friday, March 23rd. Finally, Zacks Investment Research raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a report on Wednesday, March 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.00.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new position in shares of Tsakos Energy Navigation in the 4th quarter valued at about $237,000. Virtu Financial LLC boosted its holdings in shares of Tsakos Energy Navigation by 679.3% in the 4th quarter. Virtu Financial LLC now owns 83,904 shares of the shipping company’s stock valued at $328,000 after buying an additional 73,138 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Tsakos Energy Navigation by 534.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 95,609 shares of the shipping company’s stock valued at $374,000 after buying an additional 80,538 shares during the period. State Street Corp boosted its holdings in shares of Tsakos Energy Navigation by 15.7% in the 2nd quarter. State Street Corp now owns 112,100 shares of the shipping company’s stock valued at $538,000 after buying an additional 15,231 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Tsakos Energy Navigation in the 4th quarter valued at about $466,000. 27.23% of the stock is owned by institutional investors and hedge funds.
TNP stock traded up $0.06 during mid-day trading on Friday, hitting $3.62. 178,387 shares of the company were exchanged, compared to its average volume of 210,874. The firm has a market cap of $302.20, a P/E ratio of 15.08 and a beta of 1.27. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.85. Tsakos Energy Navigation has a twelve month low of $3.11 and a twelve month high of $5.27.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Thursday, May 3rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.52%. The ex-dividend date of this dividend is Wednesday, May 2nd. Tsakos Energy Navigation’s dividend payout ratio (DPR) is presently 83.33%.
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Tsakos Energy Navigation Company Profile
Tsakos Energy Navigation Limited provides international seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services to national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of April 5, 2017, it operated a fleet of 62 double-hull vessels, including 57 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.
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