FY2016 Earnings Forecast for Tsakos Energy Navigation Ltd. Issued By Seaport Global Securities (TNP)
Tsakos Energy Navigation Ltd. (NYSE:TNP) – Stock analysts at Seaport Global Securities dropped their FY2016 earnings per share estimates for shares of Tsakos Energy Navigation in a research report issued on Tuesday. Seaport Global Securities analyst M. Fyhr now forecasts that the brokerage will post earnings per share of $0.43 for the year, down from their prior forecast of $0.67. Seaport Global Securities also issued estimates for Tsakos Energy Navigation’s Q4 2016 earnings at $0.00 EPS, Q3 2017 earnings at $0.32 EPS and FY2017 earnings at $1.17 EPS.
Tsakos Energy Navigation (NYSE:TNP) last released its quarterly earnings data on Friday, September 9th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $119.85 million for the quarter. Tsakos Energy Navigation had a return on equity of 8.60% and a net margin of 23.06%. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a report on Saturday, July 30th. Jefferies Group set a $7.00 price target on shares of Tsakos Energy Navigation and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $6.50 price target (down from $8.00) on shares of Tsakos Energy Navigation in a report on Friday, August 26th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $8.50.
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Tsakos Energy Navigation (NYSE:TNP) traded up 0.389% during midday trading on Thursday, reaching $4.909. The company’s stock had a trading volume of 284,135 shares. The firm has a 50 day moving average price of $4.97 and a 200-day moving average price of $5.44. Tsakos Energy Navigation has a 52 week low of $4.48 and a 52 week high of $9.25. The firm has a market cap of $419.77 million, a P/E ratio of 4.020 and a beta of 1.90.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, November 4th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $0.32 annualized dividend and a dividend yield of 6.54%. Tsakos Energy Navigation’s dividend payout ratio is presently 26.02%.
Several hedge funds and other institutional investors have recently made changes to their positions in TNP. LSV Asset Management boosted its position in shares of Tsakos Energy Navigation by 123.5% in the second quarter. LSV Asset Management now owns 2,010,674 shares of the company’s stock valued at $9,430,000 after buying an additional 1,110,999 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Tsakos Energy Navigation during the second quarter valued at approximately $4,668,000. Kopernik Global Investors LLC boosted its position in shares of Tsakos Energy Navigation by 16.3% in the second quarter. Kopernik Global Investors LLC now owns 2,571,145 shares of the company’s stock valued at $12,061,000 after buying an additional 360,416 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Tsakos Energy Navigation during the second quarter valued at approximately $1,204,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Tsakos Energy Navigation by 58.8% in the first quarter. Goldman Sachs Group Inc. now owns 507,899 shares of the company’s stock valued at $3,139,000 after buying an additional 187,989 shares in the last quarter. 31.29% 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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