Seaport Global Securities Equities Analysts Cut Earnings Estimates for Tsakos Energy Navigation Ltd. (TNP)
Tsakos Energy Navigation Ltd. (NYSE:TNP) – Research analysts at Seaport Global Securities decreased their Q3 2016 earnings per share estimates for Tsakos Energy Navigation in a research report issued on Tuesday. Seaport Global Securities analyst M. Fyhr now anticipates that the firm will earn $0.03 per share for the quarter, down from their prior estimate of $0.05. Seaport Global Securities also issued estimates for Tsakos Energy Navigation’s Q1 2017 earnings at $0.23 EPS, Q2 2017 earnings at $0.31 EPS and Q4 2017 earnings at $0.31 EPS.
Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings data on Friday, September 9th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. Tsakos Energy Navigation had a net margin of 23.06% and a return on equity of 8.60%. The company had revenue of $119.85 million for the quarter. During the same quarter last year, the business earned $0.45 earnings per share. Tsakos Energy Navigation’s revenue for the quarter was down 22.1% on a year-over-year basis.
A number of other brokerages have also recently weighed in on TNP. Zacks Investment Research cut Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 21st. Jefferies Group set a $7.00 price objective on Tsakos Energy Navigation and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Morgan Stanley set a $6.00 price objective on Tsakos Energy Navigation and gave the company a “buy” rating in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $8.50.
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Tsakos Energy Navigation (NYSE:TNP) traded down 2.58% during mid-day trading on Wednesday, hitting $4.90. 170,656 shares of the stock were exchanged. The company has a market capitalization of $419.00 million, a PE ratio of 4.01 and a beta of 1.90. Tsakos Energy Navigation has a 1-year low of $4.48 and a 1-year high of $9.25. The stock has a 50 day moving average price of $4.98 and a 200 day moving average price of $5.44.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, November 4th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 6.36%. Tsakos Energy Navigation’s dividend payout ratio (DPR) is currently 26.02%.
Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP boosted its position in Tsakos Energy Navigation by 49.5% in the second quarter. GSA Capital Partners LLP now owns 380,847 shares of the company’s stock valued at $1,786,000 after buying an additional 126,115 shares during the period. Emerald Acquisition Ltd. acquired a new position in Tsakos Energy Navigation during the second quarter valued at about $4,668,000. Wall Street Access Asset Management LLC boosted its position in Tsakos Energy Navigation by 4.4% in the second quarter. Wall Street Access Asset Management LLC now owns 23,500 shares of the company’s stock valued at $110,000 after buying an additional 1,000 shares during the period. WealthTrust Axiom LLC boosted its position in Tsakos Energy Navigation by 12.4% in the second quarter. WealthTrust Axiom LLC now owns 206,233 shares of the company’s stock valued at $967,000 after buying an additional 22,673 shares during the period. Finally, Smith Asset Management Group LP boosted its position in Tsakos Energy Navigation by 10.0% in the second quarter. Smith Asset Management Group LP now owns 129,580 shares of the company’s stock valued at $608,000 after buying an additional 11,790 shares during the period. 31.29% of the stock is currently owned by institutional investors and hedge funds.
Tsakos Energy Navigation Company Profile
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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