Tsakos Energy Navigation Given Average Rating of “Buy” by Brokerages (NYSE:TNP)
Shares of Tsakos Energy Navigation (NYSE:TNP) have earned an average recommendation of “Buy” from the eight analysts that are covering the company, American Banking News.com reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $10.40.
A number of research firms have recently commented on TNP. Analysts at Morgan Stanley upgraded shares of Tsakos Energy Navigation from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. They now have a $9.00 price target on the stock. Separately, 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. Finally, 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.
Shares of Tsakos Energy Navigation (NYSE:TNP) opened at 7.54 on Tuesday. Tsakos Energy Navigation has a one year low of $4.52 and a one year high of $8.48. The stock has a 50-day moving average of $6.92 and a 200-day moving average of $7.08. The company’s market cap is $604.2 million.
Tsakos Energy Navigation (NYSE:TNP) last announced its earnings results on Monday, August 4th. The company reported ($0.02) earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted ($0.04) earnings per share. Tsakos Energy Navigation’s revenue was up 4.0% compared to the same quarter last year. Analysts expect that Tsakos Energy Navigation will post $0.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, November 25th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.65%. The ex-dividend date 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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