Tsakos Energy Navigation Receives Consensus Rating of “Buy” from Brokerages (NYSE:TNP)
Shares of Tsakos Energy Navigation (NYSE:TNP) have received an average rating of “Buy” from the seven brokerages that are presently covering the stock, American Banking News reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $10.75.
A number of analysts have recently weighed in on TNP shares. 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. 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.
Tsakos Energy Navigation (NYSE:TNP) opened at 7.13 on Tuesday. Tsakos Energy Navigation has a 52-week low of $4.52 and a 52-week high of $8.48. The stock’s 50-day moving average is $6.86 and its 200-day moving average is $7.06. The company’s market cap is $571.4 million.
Tsakos Energy Navigation (NYSE:TNP) last released its earnings data on Monday, August 4th. The company reported ($0.02) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.02). 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 prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Tsakos Energy Navigation will post $0.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, November 25th. Shareholders of record on Friday, November 21st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, November 19th.
Tsakos Energy Navigation Ltd is a provider of international seaborne crude oil and petroleum product transportation services.
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