Tsakos Energy Navigation Ltd. (NYSE:TNP) – Analysts at Jefferies Group issued their FY2017 earnings per share (EPS) estimates for Tsakos Energy Navigation in a note issued to investors on Monday, according to Zacks Investment Research. Jefferies Group analyst R. Giveans expects that the shipping company will post earnings per share of $0.13 for the year. Jefferies Group currently has a “Buy” rating and a $6.00 target price on the stock. Jefferies Group also issued estimates for Tsakos Energy Navigation’s Q4 2017 earnings at $0.13 EPS and FY2018 earnings at $0.98 EPS.
Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings results on Thursday, November 30th. The shipping company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). The business had revenue of $96.92 million for the quarter, compared to analyst estimates of $101.62 million. Tsakos Energy Navigation had a return on equity of 2.02% and a net margin of 5.64%.
Several other analysts have also recently weighed in on the company. Cowen dropped their price objective on Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday, September 15th. Maxim Group set a $6.00 price objective on Tsakos Energy Navigation and gave the stock a “buy” rating in a report on Thursday, November 30th. Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 20th. Morgan Stanley decreased their price objective on Tsakos Energy Navigation from $6.00 to $5.50 and set an “overweight” rating for the company in a research report on Monday, September 18th. Finally, ValuEngine cut Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Tsakos Energy Navigation presently has a consensus rating of “Hold” and an average price target of $5.50.
Shares of Tsakos Energy Navigation (NYSE TNP) traded up $0.11 during midday trading on Wednesday, hitting $4.03. The company’s stock had a trading volume of 840,311 shares, compared to its average volume of 355,414. The company has a market capitalization of $340.02, a PE ratio of 20.15, a PEG ratio of 0.80 and a beta of 1.52. Tsakos Energy Navigation has a 12 month low of $3.82 and a 12 month high of $5.27. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.03.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Thursday, December 21st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Wednesday, December 20th. Tsakos Energy Navigation’s dividend payout ratio is 100.00%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TNP. Kopernik Global Investors LLC grew its holdings in shares of Tsakos Energy Navigation by 20.5% during the 3rd quarter. Kopernik Global Investors LLC now owns 4,766,897 shares of the shipping company’s stock worth $21,404,000 after purchasing an additional 811,357 shares in the last quarter. Northern Trust Corp raised its position in Tsakos Energy Navigation by 795.2% in the second quarter. Northern Trust Corp now owns 818,197 shares of the shipping company’s stock valued at $3,928,000 after purchasing an additional 726,800 shares during the last quarter. Russell Investments Group Ltd. raised its position in Tsakos Energy Navigation by 37.6% in the third quarter. Russell Investments Group Ltd. now owns 2,391,789 shares of the shipping company’s stock valued at $10,739,000 after purchasing an additional 653,517 shares during the last quarter. Morgan Stanley raised its position in Tsakos Energy Navigation by 124.0% in the first quarter. Morgan Stanley now owns 444,556 shares of the shipping company’s stock valued at $2,129,000 after purchasing an additional 246,081 shares during the last quarter. Finally, Afam Capital Inc. raised its position in Tsakos Energy Navigation by 69.8% in the second quarter. Afam Capital Inc. now owns 540,084 shares of the shipping company’s stock valued at $2,592,000 after purchasing an additional 221,995 shares during the last quarter. 25.96% of the stock is currently owned by institutional investors.
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About Tsakos Energy Navigation
Tsakos Energy Navigation Ltd is a provider of international seaborne crude oil and petroleum product transportation services. The Company operates through maritime transportation of liquid energy related products segment. It operates a fleet of approximately 57 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long, medium and short-term charters.
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