Tsakos Energy Navigation Ltd. (TNP) Expected to Post Earnings of -$0.04 Per Share

Wall Street brokerages forecast that Tsakos Energy Navigation Ltd. (NYSE:TNP) will announce earnings of ($0.04) per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Tsakos Energy Navigation’s earnings. The lowest EPS estimate is ($0.07) and the highest is ($0.02). Tsakos Energy Navigation reported earnings per share of $0.10 in the same quarter last year, which would suggest a negative year over year growth rate of 140%. The business is expected to issue its next earnings report on Friday, March 16th.

On average, analysts expect that Tsakos Energy Navigation will report full-year earnings of ($0.04) per share for the current fiscal year, with EPS estimates ranging from ($0.06) to ($0.01). For the next year, analysts expect that the company will post earnings of $0.11 per share, with EPS estimates ranging from ($0.31) to $0.46. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Tsakos Energy Navigation.

Tsakos Energy Navigation (NYSE:TNP) last issued its earnings results on Thursday, November 30th. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). Tsakos Energy Navigation had a return on equity of 2.02% and a net margin of 5.64%. The company had revenue of $96.92 million for the quarter, compared to the consensus estimate of $101.62 million.

TNP has been the topic of a number of recent research reports. Maxim Group set a $6.00 price objective on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a research note on Friday, November 17th. Jefferies Group initiated coverage on shares of Tsakos Energy Navigation in a research note on Monday, December 18th. They issued a “buy” rating and a $6.00 price objective on the stock. Stifel Nicolaus set a $7.00 price objective on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a research note on Sunday, October 29th. Zacks Investment Research lowered shares of Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 20th. Finally, ValuEngine lowered shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.14.

Tsakos Energy Navigation (NYSE:TNP) traded down $0.02 during trading on Tuesday, hitting $3.38. 323,501 shares of the company’s stock were exchanged, compared to its average volume of 393,440. Tsakos Energy Navigation has a 12-month low of $3.11 and a 12-month high of $5.27. The company has a market capitalization of $285.18, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 3.13 and a beta of 1.33. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 0.99.

Several hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of Tsakos Energy Navigation by 7.7% in the second quarter. Ameriprise Financial Inc. now owns 29,339 shares of the shipping company’s stock valued at $141,000 after purchasing an additional 2,104 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Tsakos Energy Navigation by 2.2% in the second quarter. California Public Employees Retirement System now owns 692,200 shares of the shipping company’s stock valued at $3,323,000 after purchasing an additional 15,000 shares during the last quarter. State Street Corp raised its holdings in shares of Tsakos Energy Navigation by 15.7% in the second quarter. State Street Corp now owns 112,100 shares of the shipping company’s stock valued at $538,000 after purchasing an additional 15,231 shares during the last quarter. Afam Capital Inc. raised its holdings in shares of Tsakos Energy Navigation by 2.8% in the fourth quarter. Afam Capital Inc. now owns 566,948 shares of the shipping company’s stock valued at $2,217,000 after purchasing an additional 15,710 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its holdings in shares of Tsakos Energy Navigation by 65.2% in the second quarter. Virtu KCG Holdings LLC now owns 52,120 shares of the shipping company’s stock valued at $250,000 after purchasing an additional 20,577 shares during the last quarter. Institutional investors own 26.11% of the company’s stock.

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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. The Company consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and liquefied natural gas (LNG) carriers, totaling 7.2 million deadweight.

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