Equities Analysts Issue Forecasts for Tsakos Energy Navigation Ltd.’s Q3 2016 Earnings (TNP)
Tsakos Energy Navigation Ltd. (NYSE:TNP) – Analysts at Seaport Global Securities dropped their Q3 2016 earnings per share (EPS) estimates for Tsakos Energy Navigation in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the firm will post earnings of $0.03 per share for the quarter, down from their previous forecast of $0.05. Seaport Global Securities also issued estimates for Tsakos Energy Navigation’s Q1 2017 earnings at $0.23 EPS, Q2 2017 earnings at $0.31 EPS and Q4 2017 earnings at $0.31 EPS.
A number of other research analysts have also weighed in on TNP. Zacks Investment Research lowered shares of Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 21st. Morgan Stanley set a $6.00 target price on shares of Tsakos Energy Navigation and gave the stock a “buy” rating in a research note on Monday, September 12th. Finally, Jefferies Group reissued a “buy” rating and issued a $9.00 target price on shares of Tsakos Energy Navigation in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Tsakos Energy Navigation currently has a consensus rating of “Buy” and a consensus target price of $8.50.
Tsakos Energy Navigation (NYSE:TNP) opened at 4.89 on Wednesday. The stock has a market cap of $418.14 million, a PE ratio of 4.00 and a beta of 1.90. The firm’s 50-day moving average price is $4.97 and its 200-day moving average price is $5.44. Tsakos Energy Navigation has a 52 week low of $4.48 and a 52 week high of $9.25.
Tsakos Energy Navigation (NYSE:TNP) last announced its quarterly earnings data on Friday, September 9th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. The business earned $119.85 million during the quarter. Tsakos Energy Navigation had a return on equity of 8.60% and a net margin of 23.06%. The firm’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, November 4th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 6.54%. The ex-dividend date is Wednesday, November 2nd. Tsakos Energy Navigation’s payout ratio is presently 26.02%.
Several hedge funds have recently added to or reduced their stakes in TNP. Wall Street Access Asset Management LLC raised its stake in Tsakos Energy Navigation by 4.4% in the second quarter. Wall Street Access Asset Management LLC now owns 23,500 shares of the company’s stock valued at $110,000 after buying an additional 1,000 shares during the last quarter. Creative Planning increased its stake in Tsakos Energy Navigation by 10.4% in the second quarter. Creative Planning now owns 26,500 shares of the company’s stock valued at $124,000 after buying an additional 2,500 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Tsakos Energy Navigation during the second quarter valued at $151,000. Princeton Alpha Management LP increased its stake in Tsakos Energy Navigation by 87.3% in the second quarter. Princeton Alpha Management LP now owns 32,874 shares of the company’s stock valued at $154,000 after buying an additional 15,320 shares during the period. Finally, KCG Holdings Inc. bought a new stake in Tsakos Energy Navigation during the second quarter valued at $215,000. 31.29% of the stock is currently owned by hedge funds and other institutional investors.
About Tsakos Energy Navigation
Tsakos Energy Navigation Limited 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 50 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.
Receive News & Stock Ratings for Tsakos Energy Navigation Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tsakos Energy Navigation Ltd. and related stocks with our FREE daily email newsletter.