TSAKOS ENERGY N/SH (NYSE:TNP) – Jefferies Financial Group boosted their Q3 2018 EPS estimates for shares of TSAKOS ENERGY N/SH in a note issued to investors on Monday, October 29th. Jefferies Financial Group analyst R. Giveans now expects that the shipping company will post earnings of ($0.22) per share for the quarter, up from their prior forecast of ($0.23). Jefferies Financial Group also issued estimates for TSAKOS ENERGY N/SH’s Q4 2018 earnings at ($0.03) EPS, FY2018 earnings at ($0.64) EPS and FY2019 earnings at $0.12 EPS.
TSAKOS ENERGY N/SH (NYSE:TNP) last announced its quarterly earnings results on Friday, September 7th. The shipping company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. The firm had revenue of $94.52 million for the quarter, compared to analyst estimates of $96.46 million. TSAKOS ENERGY N/SH had a negative return on equity of 1.44% and a negative net margin of 6.87%.
Several other brokerages have also commented on TNP. Wells Fargo & Co cut their price target on TSAKOS ENERGY N/SH from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, September 10th. Seaport Global Securities restated a “buy” rating and set a $6.00 price target on shares of TSAKOS ENERGY N/SH in a research note on Friday, July 27th. Finally, Zacks Investment Research lowered TSAKOS ENERGY N/SH from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $5.00.
Shares of TSAKOS ENERGY N/SH stock opened at $3.59 on Thursday. The firm has a market cap of $276.73 million, a PE ratio of 14.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.94 and a current ratio of 0.98. TSAKOS ENERGY N/SH has a 12 month low of $3.00 and a 12 month high of $4.64.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.20 annualized dividend and a dividend yield of 5.57%. TSAKOS ENERGY N/SH’s dividend payout ratio is currently 83.33%.
Several institutional investors have recently made changes to their positions in TNP. WealthTrust Axiom LLC increased its stake in shares of TSAKOS ENERGY N/SH by 20.8% during the third quarter. WealthTrust Axiom LLC now owns 399,150 shares of the shipping company’s stock valued at $1,353,000 after buying an additional 68,650 shares during the period. FMR LLC grew its stake in TSAKOS ENERGY N/SH by 11.1% in the second quarter. FMR LLC now owns 500,307 shares of the shipping company’s stock valued at $1,861,000 after purchasing an additional 50,000 shares during the last quarter. California Public Employees Retirement System grew its stake in TSAKOS ENERGY N/SH by 5.5% in the first quarter. California Public Employees Retirement System now owns 730,443 shares of the shipping company’s stock valued at $2,410,000 after purchasing an additional 38,243 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in TSAKOS ENERGY N/SH by 21.5% in the first quarter. Guggenheim Capital LLC now owns 764,449 shares of the shipping company’s stock valued at $2,523,000 after purchasing an additional 135,253 shares during the last quarter. Hedge funds and other institutional investors own 23.22% 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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