Analysts expect that Tsakos Energy Navigation Ltd (NYSE:TNP) will post $105.17 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Tsakos Energy Navigation’s earnings, with the lowest sales estimate coming in at $103.04 million and the highest estimate coming in at $110.10 million. Tsakos Energy Navigation reported sales of $81.84 million in the same quarter last year, which would suggest a positive year over year growth rate of 28.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, December 5th.

According to Zacks, analysts expect that Tsakos Energy Navigation will report full-year sales of $105.17 million for the current year, with estimates ranging from $428.59 million to $445.49 million. For the next year, analysts anticipate that the firm will report sales of $497.90 million per share, with estimates ranging from $465.09 million to $528.71 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Tsakos Energy Navigation.

Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings data on Friday, September 15th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The business had revenue of $104.06 million for the quarter, compared to analyst estimates of $108.51 million. Tsakos Energy Navigation had a return on equity of 2.39% and a net margin of 6.86%.

Several research firms recently commented on TNP. Wells Fargo & Co lowered Tsakos Energy Navigation from an “outperform” rating to a “market perform” rating and set a $3.00 target price for the company. in a research note on Wednesday, August 2nd. BidaskClub lowered Tsakos Energy Navigation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $6.00 target price on shares of Tsakos Energy Navigation in a research note on Monday, October 16th. Cowen and Company dropped their target price on Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Finally, Maxim Group reiterated a “buy” rating and issued a $6.00 target price on shares of Tsakos Energy Navigation in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $5.57.

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A number of large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in Tsakos Energy Navigation by 41.8% during the second quarter. Russell Investments Group Ltd. now owns 1,738,272 shares of the shipping company’s stock worth $8,343,000 after acquiring an additional 512,292 shares during the last quarter. Global X Management Co. LLC increased its stake in Tsakos Energy Navigation by 22.8% during the second quarter. Global X Management Co. LLC now owns 1,345,697 shares of the shipping company’s stock worth $6,459,000 after acquiring an additional 249,746 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Tsakos Energy Navigation by 8.1% during the first quarter. Parametric Portfolio Associates LLC now owns 908,886 shares of the shipping company’s stock worth $4,354,000 after acquiring an additional 67,863 shares during the last quarter. Northern Trust Corp increased its stake in Tsakos Energy Navigation by 795.2% during the second quarter. Northern Trust Corp now owns 818,197 shares of the shipping company’s stock worth $3,928,000 after acquiring an additional 726,800 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Tsakos Energy Navigation by 2.5% during the second quarter. Wells Fargo & Company MN now owns 716,895 shares of the shipping company’s stock worth $3,441,000 after acquiring an additional 17,648 shares during the last quarter. Institutional investors own 25.95% of the company’s stock.

Shares of Tsakos Energy Navigation (NYSE:TNP) opened at 4.79 on Friday. The company’s 50 day moving average price is $4.55 and its 200-day moving average price is $4.62. The firm has a market capitalization of $404.14 million, a P/E ratio of 24.31 and a beta of 1.70. Tsakos Energy Navigation has a 12 month low of $3.92 and a 12 month high of $5.28.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.20 annualized dividend and a yield of 4.18%. Tsakos Energy Navigation’s dividend payout ratio is presently 95.24%.

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

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