$102.45 Million in Sales Expected for Tsakos Energy Navigation Ltd. (TNP) This Quarter

Equities analysts predict that Tsakos Energy Navigation Ltd. (NYSE:TNP) will post sales of $102.45 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Tsakos Energy Navigation’s earnings, with the highest sales estimate coming in at $105.42 million and the lowest estimate coming in at $98.40 million. Tsakos Energy Navigation reported sales of $108.16 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5.3%. The business is scheduled to issue its next quarterly earnings results on Friday, May 11th.

On average, analysts expect that Tsakos Energy Navigation will report full year sales of $102.45 million for the current financial year, with estimates ranging from $426.05 million to $471.62 million. For the next fiscal year, analysts anticipate that the company will report sales of $507.17 million per share, with estimates ranging from $420.38 million to $570.46 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Tsakos Energy Navigation.

How to Become a New Pot Stock Millionaire

Tsakos Energy Navigation (NYSE:TNP) last announced its quarterly earnings results on Monday, March 12th. The shipping company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.07. The firm had revenue of $106.64 million during the quarter, compared to analysts’ expectations of $110.06 million. Tsakos Energy Navigation had a net margin of 1.44% and a return on equity of 1.34%.

A number of brokerages have commented on TNP. Maxim Group cut their price target on shares of Tsakos Energy Navigation from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday. ValuEngine cut shares of Tsakos Energy Navigation from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Morgan Stanley cut their price target on shares of Tsakos Energy Navigation from $5.50 to $4.00 and set an “overweight” rating for the company in a research note on Monday, February 12th. Stifel Nicolaus set a $6.00 price target on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Zacks Investment Research cut shares of Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 20th. Three equities research 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. The stock currently has an average rating of “Hold” and a consensus target price of $5.00.

Shares of Tsakos Energy Navigation (NYSE TNP) traded up $0.07 during mid-day trading on Friday, reaching $3.52. 556,103 shares of the company’s stock were exchanged, compared to its average volume of 331,852. The firm has a market capitalization of $303.89, a PE ratio of -19.55, a P/E/G ratio of 6.11 and a beta of 1.37. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. Tsakos Energy Navigation has a 12-month low of $3.11 and a 12-month high of $5.27.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Thursday, May 3rd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Wednesday, May 2nd. Tsakos Energy Navigation’s dividend payout ratio is presently -111.10%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kopernik Global Investors LLC lifted its stake in shares of Tsakos Energy Navigation by 12.8% during the 4th quarter. Kopernik Global Investors LLC now owns 5,376,985 shares of the shipping company’s stock worth $21,024,000 after buying an additional 610,088 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Tsakos Energy Navigation by 37.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,391,789 shares of the shipping company’s stock worth $10,739,000 after buying an additional 653,517 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Tsakos Energy Navigation by 795.2% during the 2nd quarter. Northern Trust Corp now owns 818,197 shares of the shipping company’s stock worth $3,928,000 after buying an additional 726,800 shares during the last quarter. Afam Capital Inc. lifted its stake in shares of Tsakos Energy Navigation by 2.8% during the 4th quarter. Afam Capital Inc. now owns 566,948 shares of the shipping company’s stock worth $2,217,000 after buying an additional 15,710 shares during the last quarter. Finally, WealthTrust Axiom LLC lifted its stake in shares of Tsakos Energy Navigation by 18.3% during the 4th quarter. WealthTrust Axiom LLC now owns 332,500 shares of the shipping company’s stock worth $1,300,000 after buying an additional 51,500 shares during the last quarter. Institutional investors own 27.23% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “$102.45 Million in Sales Expected for Tsakos Energy Navigation Ltd. (TNP) This Quarter” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.dispatchtribunal.com/2018/04/08/102-45-million-in-sales-expected-for-tsakos-energy-navigation-ltd-tnp-this-quarter.html.

Tsakos Energy Navigation Company Profile

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.

Get a free copy of the Zacks research report on Tsakos Energy Navigation (TNP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Tsakos Energy Navigation (NYSE:TNP)

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.

Leave a Reply