Tsakos Energy Navigation (TNP) Announces Quarterly Earnings, Hits Estimates
Tsakos Energy Navigation (NYSE:TNP) posted its quarterly earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02), AnalystRatingsNetwork reports. The company had revenue of $112.40 million for the quarter, compared to the consensus estimate of $75.10 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Jefferies Group cut their price target on shares of Tsakos Energy Navigation from $11.00 to $10.00 in a research note on Monday, July 28th. They now have a “buy” rating on the stock. On the ratings front, analysts at Canaccord Genuity initiated coverage on shares of Tsakos Energy Navigation in a research note on Tuesday, July 8th. They set a “buy” rating and a $9.50 price target on the stock. Finally, analysts at EuroPacific Canada raised their price target on shares of Tsakos Energy Navigation from $11.00 to $11.50 in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.78.
Tsakos Energy Navigation (NYSE:TNP) opened at 6.90 on Monday. Tsakos Energy Navigation has a 52 week low of $4.52 and a 52 week high of $8.48. The stock has a 50-day moving average of $7.01 and a 200-day moving average of $7.13. The company’s market cap is $497.1 million.
Tsakos Energy Navigation Ltd is a provider of international seaborne crude oil and petroleum product transportation services.
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