FY2016 Earnings Estimate for Tsakos Energy Navigation Ltd. Issued By Seaport Global Securities (TNP)
Tsakos Energy Navigation Ltd. (NYSE:TNP) – Seaport Global Securities dropped their FY2016 EPS estimates for shares of Tsakos Energy Navigation in a report released on Tuesday. Seaport Global Securities analyst M. Fyhr now forecasts that the firm will earn $0.43 per share for the year, down from their previous forecast of $0.67. Seaport Global Securities also issued estimates for Tsakos Energy Navigation’s Q4 2016 earnings at $0.00 EPS, Q3 2017 earnings at $0.32 EPS and FY2017 earnings at $1.17 EPS.
Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings data on Friday, September 9th. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. Tsakos Energy Navigation had a net margin of 23.06% and a return on equity of 8.60%. The firm had revenue of $119.85 million for the quarter. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue was down 22.1% compared to the same quarter last year.
Several other research firms also recently weighed in on TNP. Jefferies Group set a $7.00 target price on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a report on Wednesday, July 27th. Zacks Investment Research downgraded shares of Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a report on Saturday, July 30th. Finally, Morgan Stanley set a $6.00 target price on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Tsakos Energy Navigation has a consensus rating of “Buy” and a consensus price target of $8.50.
Shares of Tsakos Energy Navigation (NYSE:TNP) opened at 4.87 on Thursday. The stock has a market capitalization of $416.43 million, a P/E ratio of 3.99 and a beta of 1.90. The company’s 50-day moving average is $4.97 and its 200 day moving average is $5.44. Tsakos Energy Navigation has a 52 week low of $4.48 and a 52 week high of $9.25.
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 issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.57%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is presently 26.02%.
Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Tsakos Energy Navigation by 33.4% in the second quarter. Royal Bank of Canada now owns 403,203 shares of the company’s stock worth $1,891,000 after buying an additional 101,035 shares during the period. Stifel Financial Corp increased its stake in shares of Tsakos Energy Navigation by 12.6% in the second quarter. Stifel Financial Corp now owns 255,723 shares of the company’s stock worth $1,200,000 after buying an additional 28,549 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Tsakos Energy Navigation during the second quarter worth approximately $1,204,000. Guggenheim Capital LLC increased its stake in shares of Tsakos Energy Navigation by 10.2% in the second quarter. Guggenheim Capital LLC now owns 161,074 shares of the company’s stock worth $755,000 after buying an additional 14,857 shares during the period. Finally, KCG Holdings Inc. purchased a new stake in shares of Tsakos Energy Navigation during the second quarter worth approximately $215,000. Institutional investors and hedge funds own 31.29% of the company’s stock.
Tsakos Energy Navigation Company Profile
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.
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