Tsakos Energy Navigation Ltd. (TNP) to Release Quarterly Earnings on Tuesday
Tsakos Energy Navigation Ltd. (NYSE:TNP) is scheduled to announce its Q316 earnings results on Tuesday, November 29th. Analysts expect the company to announce earnings of $0.03 per share and revenue of $99.92 million for the quarter.
Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings results on Friday, September 9th. The company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. Tsakos Energy Navigation had a return on equity of 8.59% and a net margin of 23.06%. The company had revenue of $119.85 million for the quarter. During the same period in the prior year, the company earned $0.45 EPS. The company’s revenue for the quarter was down 22.1% compared to the same quarter last year. On average, analysts expect Tsakos Energy Navigation to post $0.62 EPS for the current fiscal year and $1.00 EPS for the next fiscal year.
Tsakos Energy Navigation Ltd. (NYSE:TNP) opened at 4.63 on Friday. The firm’s 50 day moving average price is $4.69 and its 200-day moving average price is $5.11. The stock has a market cap of $389.63 million, a price-to-earnings ratio of 3.79 and a beta of 2.13. Tsakos Energy Navigation Ltd. has a 52 week low of $3.92 and a 52 week high of $8.12.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, November 4th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.91%. Tsakos Energy Navigation’s dividend payout ratio is presently 26.02%.
A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 30th. Morgan Stanley set a $6.00 price objective on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a research note on Monday, September 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $8.50.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Highbridge Capital Management LLC acquired a new position in Tsakos Energy Navigation during the second quarter valued at about $1,204,000. Guggenheim Capital LLC raised its position in Tsakos Energy Navigation by 10.2% in the second quarter. Guggenheim Capital LLC now owns 161,074 shares of the company’s stock valued at $755,000 after buying an additional 14,857 shares during the period. UBS Oconnor LLC acquired a new position in Tsakos Energy Navigation during the second quarter valued at about $444,000. KCG Holdings Inc. raised its position in Tsakos Energy Navigation by 38.1% in the third quarter. KCG Holdings Inc. now owns 63,365 shares of the company’s stock valued at $305,000 after buying an additional 17,477 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in Tsakos Energy Navigation during the third quarter valued at about $278,000. Hedge funds and other institutional investors own 31.38% of the company’s stock.
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.
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