Equities research analysts expect that Tsakos Energy Navigation Ltd (NYSE:TNP) will announce earnings per share (EPS) of ($0.14) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Tsakos Energy Navigation’s earnings, with estimates ranging from ($0.16) to ($0.11). Tsakos Energy Navigation posted earnings of $0.16 per share during the same quarter last year, which suggests a negative year over year growth rate of 187.5%. The firm is expected to announce its next earnings results before the market opens on Friday, June 15th.
According to Zacks, analysts expect that Tsakos Energy Navigation will report full year earnings of ($0.37) per share for the current financial year, with EPS estimates ranging from ($0.74) to $0.05. For the next financial year, analysts expect that the business will report earnings of $0.34 per share, with EPS estimates ranging from ($0.30) to $0.92. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Tsakos Energy Navigation.
Tsakos Energy Navigation (NYSE:TNP) last posted its earnings results on Monday, March 12th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.07. The company had revenue of $106.64 million for the quarter, compared to analyst estimates of $110.06 million. Tsakos Energy Navigation had a return on equity of 1.35% and a net margin of 1.44%.
Several equities research analysts have weighed in on the company. ValuEngine raised Tsakos Energy Navigation from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. JPMorgan Chase lowered their price target on Tsakos Energy Navigation from $5.50 to $5.00 and set an “overweight” rating for the company in a report on Friday, March 23rd. Maxim Group lowered their price target on Tsakos Energy Navigation from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, March 13th. Morgan Stanley lowered their price target on Tsakos Energy Navigation from $5.50 to $4.00 and set an “overweight” rating for the company in a report on Monday, February 12th. Finally, Zacks Investment Research raised Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a report on Wednesday, March 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $5.00.
Institutional investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D lifted its holdings in shares of Tsakos Energy Navigation by 91.7% during the first quarter. State of New Jersey Common Pension Fund D now owns 48,500 shares of the shipping company’s stock worth $160,000 after purchasing an additional 23,200 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Tsakos Energy Navigation during the fourth quarter worth about $237,000. GSA Capital Partners LLP lifted its holdings in shares of Tsakos Energy Navigation by 240.3% during the first quarter. GSA Capital Partners LLP now owns 88,749 shares of the shipping company’s stock worth $293,000 after purchasing an additional 62,673 shares during the period. Virtu Financial LLC lifted its holdings in shares of Tsakos Energy Navigation by 679.3% during the fourth quarter. Virtu Financial LLC now owns 83,904 shares of the shipping company’s stock worth $328,000 after purchasing an additional 73,138 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Tsakos Energy Navigation by 534.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 95,609 shares of the shipping company’s stock worth $374,000 after purchasing an additional 80,538 shares during the period. 26.12% of the stock is owned by hedge funds and other institutional investors.
Tsakos Energy Navigation traded down $0.08, hitting $3.47, during trading on Thursday, according to Marketbeat Ratings. The company’s stock had a trading volume of 195,731 shares, compared to its average volume of 191,445. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.85 and a current ratio of 0.90. The company has a market cap of $294.56 million, a PE ratio of 86.75 and a beta of 1.28. Tsakos Energy Navigation has a fifty-two week low of $3.11 and a fifty-two week high of $5.27.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Thursday, May 3rd were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date of this dividend was Wednesday, May 2nd. Tsakos Energy Navigation’s dividend payout ratio (DPR) is 83.33%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tsakos Energy Navigation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tsakos Energy Navigation and related companies with MarketBeat.com's FREE daily email newsletter.