Tsakos Energy Navigation Ltd (TNP) Announces Earnings Results, Misses Estimates By $0.08 EPS
Tsakos Energy Navigation Ltd (NYSE:TNP) released its quarterly earnings data on Friday. The shipping company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08), MarketWatch Earnings reports. Tsakos Energy Navigation had a net margin of 9.61% and a return on equity of 3.40%.
Shares of Tsakos Energy Navigation (TNP) traded down 2.63% on Friday, reaching $4.44. 201,330 shares of the company were exchanged. The firm’s 50 day moving average price is $4.59 and its 200 day moving average price is $4.63. Tsakos Energy Navigation has a 52 week low of $3.92 and a 52 week high of $5.28. The stock has a market capitalization of $372.81 million, a price-to-earnings ratio of 11.72 and a beta of 1.69.
A hedge fund recently raised its stake in Tsakos Energy Navigation stock. State Street Corp increased its stake in shares of Tsakos Energy Navigation Ltd (NYSE:TNP) by 15.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 112,100 shares of the shipping company’s stock after acquiring an additional 15,231 shares during the period. State Street Corp owned approximately 0.13% of Tsakos Energy Navigation worth $538,000 at the end of the most recent reporting period. 25.98% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on TNP shares. Jefferies Group LLC reissued a “buy” rating and issued a $6.00 price target on shares of Tsakos Energy Navigation in a report on Tuesday, July 4th. BidaskClub raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. ValuEngine downgraded shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. 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 target for the company. in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Tsakos Energy Navigation currently has a consensus rating of “Hold” and an average target price of $5.70.
About Tsakos Energy Navigation
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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