Equities analysts expect Tsakos Energy Navigation Ltd (NYSE:TNP) to report sales of $108.51 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Tsakos Energy Navigation’s earnings, with the highest sales estimate coming in at $115.48 million and the lowest estimate coming in at $105.36 million. Tsakos Energy Navigation reported sales of $94.83 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.4%. The company is expected to report its next earnings results before the market opens on Friday, September 15th.

On average, analysts expect that Tsakos Energy Navigation will report full year sales of $108.51 million for the current fiscal year, with estimates ranging from $433.00 million to $487.73 million. For the next fiscal year, analysts forecast that the company will post sales of $503.27 million per share, with estimates ranging from $467.11 million to $565.01 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Tsakos Energy Navigation.

TNP has been the subject of several research reports. Jefferies Group LLC reissued a “buy” rating and set a $6.00 price objective on shares of Tsakos Energy Navigation in a research report on Tuesday, July 4th. ValuEngine downgraded shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Wells Fargo & Company downgraded shares of Tsakos Energy Navigation from an “outperform” rating to a “market perform” rating and set a $3.00 price objective for the company. in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $5.70.

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Several large investors have recently added to or reduced their stakes in TNP. Northern Trust Corp increased its stake in shares of Tsakos Energy Navigation by 795.2% in the 2nd quarter. Northern Trust Corp now owns 818,197 shares of the shipping company’s stock valued at $3,928,000 after acquiring an additional 726,800 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Tsakos Energy Navigation by 41.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,738,272 shares of the shipping company’s stock valued at $8,343,000 after acquiring an additional 512,292 shares in the last quarter. Old West Investment Management LLC increased its stake in shares of Tsakos Energy Navigation by 107.2% in the 1st quarter. Old West Investment Management LLC now owns 936,546 shares of the shipping company’s stock valued at $4,486,000 after acquiring an additional 484,510 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Tsakos Energy Navigation by 22.8% in the 2nd quarter. Global X Management Co. LLC now owns 1,345,697 shares of the shipping company’s stock valued at $6,459,000 after acquiring an additional 249,746 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Tsakos Energy Navigation by 124.0% in the 1st quarter. Morgan Stanley now owns 444,556 shares of the shipping company’s stock valued at $2,129,000 after acquiring an additional 246,081 shares in the last quarter. Institutional investors own 25.98% of the company’s stock.

Shares of Tsakos Energy Navigation (NYSE:TNP) opened at 4.61 on Thursday. The company has a 50 day moving average of $4.61 and a 200 day moving average of $4.63. Tsakos Energy Navigation has a 1-year low of $3.92 and a 1-year high of $5.28. The firm has a market cap of $387.08 million, a price-to-earnings ratio of 12.16 and a beta of 1.69.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd 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 57 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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Earnings History and Estimates for Tsakos Energy Navigation (NYSE:TNP)

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