Zacks: Analysts Anticipate Tsakos Energy Navigation Ltd (NYSE:TNP) to Post $0.05 Earnings Per Share

Analysts predict that Tsakos Energy Navigation Ltd (NYSE:TNP) will announce $0.05 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Tsakos Energy Navigation’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.11. Tsakos Energy Navigation posted earnings of $0.15 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 66.7%. The firm is expected to report its next earnings results on Friday, September 8th.

On average, analysts expect that Tsakos Energy Navigation will report full-year earnings of $0.38 per share for the current year, with EPS estimates ranging from $0.23 to $0.70. For the next fiscal year, analysts expect that the business will report earnings of $0.80 per share, with EPS estimates ranging from $0.40 to $1.35. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Tsakos Energy Navigation.

Tsakos Energy Navigation (NYSE:TNP) last announced its earnings results on Friday, May 12th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. Tsakos Energy Navigation had a net margin of 9.61% and a return on equity of 3.40%. The company had revenue of $108.16 million for the quarter, compared to the consensus estimate of $113.51 million.

A number of equities analysts have issued reports on TNP shares. Maxim Group reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Tsakos Energy Navigation in a research note on Friday, April 21st. Jefferies Group LLC reissued a “buy” rating and set a $6.00 price target on shares of Tsakos Energy Navigation in a research report on Monday, April 24th. Zacks Investment Research cut shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. ValuEngine cut shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.75.

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Shares of Tsakos Energy Navigation (TNP) opened at 4.80 on Friday. Tsakos Energy Navigation has a 52 week low of $3.92 and a 52 week high of $5.41. The firm’s 50-day moving average is $4.82 and its 200 day moving average is $4.69. The firm has a market capitalization of $403.04 million, a P/E ratio of 12.66 and a beta of 1.69.

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Tuesday, July 11th were given a dividend of $0.05 per share. The ex-dividend date was Friday, July 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.17%. Tsakos Energy Navigation’s dividend payout ratio is 51.28%.

Institutional investors have recently made changes to their positions in the company. Stifel Financial Corp boosted its position in shares of Tsakos Energy Navigation by 37.2% in the first quarter. Stifel Financial Corp now owns 253,654 shares of the shipping company’s stock worth $1,220,000 after buying an additional 68,760 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Tsakos Energy Navigation by 34.5% in the first quarter. Wells Fargo & Company MN now owns 699,247 shares of the shipping company’s stock worth $3,349,000 after buying an additional 179,537 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Tsakos Energy Navigation by 8.1% in the first quarter. Parametric Portfolio Associates LLC now owns 908,886 shares of the shipping company’s stock worth $4,354,000 after buying an additional 67,863 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Tsakos Energy Navigation by 49.8% in the first quarter. Ameriprise Financial Inc. now owns 27,235 shares of the shipping company’s stock worth $130,000 after buying an additional 9,060 shares in the last quarter. Finally, Foundation Resource Management Inc. boosted its position in shares of Tsakos Energy Navigation by 1.3% in the second quarter. Foundation Resource Management Inc. now owns 626,916 shares of the shipping company’s stock worth $3,009,000 after buying an additional 7,910 shares in the last quarter. 28.30% of the stock is currently owned by 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.

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