Brokerages expect TSAKOS ENERGY N/SH (NYSE:TNP) to post sales of $101.18 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for TSAKOS ENERGY N/SH’s earnings. The lowest sales estimate is $95.09 million and the highest is $108.96 million. TSAKOS ENERGY N/SH posted sales of $96.92 million in the same quarter last year, which suggests a positive year over year growth rate of 4.4%. The firm is expected to issue its next quarterly earnings results on Thursday, November 29th.
On average, analysts expect that TSAKOS ENERGY N/SH will report full year sales of $402.28 million for the current fiscal year, with estimates ranging from $389.45 million to $420.35 million. For the next year, analysts anticipate that the company will report sales of $464.82 million, with estimates ranging from $436.81 million to $530.03 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow TSAKOS ENERGY N/SH.
TSAKOS ENERGY N/SH (NYSE:TNP) last issued its quarterly earnings results on Friday, September 7th. The shipping company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. TSAKOS ENERGY N/SH had a negative return on equity of 1.47% and a negative net margin of 6.87%. The firm had revenue of $94.52 million during the quarter, compared to the consensus estimate of $96.46 million.
TNP has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded TSAKOS ENERGY N/SH from a “hold” rating to a “strong sell” rating in a report on Saturday, July 7th. Wells Fargo & Co decreased their price target on TSAKOS ENERGY N/SH from $4.00 to $3.00 and set a “buy” rating for the company in a report on Monday, September 10th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $6.00 price target on shares of TSAKOS ENERGY N/SH in a report on Friday, July 27th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. TSAKOS ENERGY N/SH currently has an average rating of “Buy” and a consensus target price of $5.00.
TSAKOS ENERGY N/SH stock traded up $0.01 during trading hours on Thursday, reaching $3.37. 65,761 shares of the company’s stock were exchanged, compared to its average volume of 216,121. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 0.96. TSAKOS ENERGY N/SH has a twelve month low of $3.11 and a twelve month high of $4.86. The company has a market cap of $287.77 million, a P/E ratio of 14.04 and a beta of 1.02.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Friday, November 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.20 annualized dividend and a dividend yield of 5.93%. TSAKOS ENERGY N/SH’s dividend payout ratio is presently 83.33%.
Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of TSAKOS ENERGY N/SH by 12.6% in the 1st quarter. Russell Investments Group Ltd. now owns 3,143,722 shares of the shipping company’s stock valued at $10,374,000 after buying an additional 352,899 shares during the period. California Public Employees Retirement System grew its stake in shares of TSAKOS ENERGY N/SH by 5.5% in the 1st quarter. California Public Employees Retirement System now owns 730,443 shares of the shipping company’s stock valued at $2,410,000 after buying an additional 38,243 shares during the period. Stifel Financial Corp grew its stake in shares of TSAKOS ENERGY N/SH by 88.5% in the 1st quarter. Stifel Financial Corp now owns 392,994 shares of the shipping company’s stock valued at $1,301,000 after buying an additional 184,547 shares during the period. Guggenheim Capital LLC grew its stake in shares of TSAKOS ENERGY N/SH by 21.5% in the 1st quarter. Guggenheim Capital LLC now owns 764,449 shares of the shipping company’s stock valued at $2,523,000 after buying an additional 135,253 shares during the period. Finally, GSA Capital Partners LLP grew its stake in shares of TSAKOS ENERGY N/SH by 240.3% in the 1st quarter. GSA Capital Partners LLP now owns 88,749 shares of the shipping company’s stock valued at $293,000 after buying an additional 62,673 shares during the period. Institutional investors own 23.32% of the company’s stock.
TSAKOS ENERGY N/SH Company Profile
Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of April 20, 2018, it operated a fleet of 64 double-hull vessels, including 59 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.
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