Tsakos Energy Navigation (TNP) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Tsakos Energy Navigation (NYSE:TNP) announced its quarterly earnings data on Thursday. The shipping company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02), Yahoo Finance reports. Tsakos Energy Navigation had a net margin of 6.86% and a return on equity of 2.39%.

Tsakos Energy Navigation (TNP) traded down $0.30 during trading on Friday, reaching $3.84. The company’s stock had a trading volume of 973,100 shares, compared to its average volume of 345,081. Tsakos Energy Navigation has a one year low of $3.82 and a one year high of $5.28. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.03. The firm has a market capitalization of $361.11, a PE ratio of 19.86, a PEG ratio of 2.98 and a beta of 1.61.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Thursday, November 9th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend was Wednesday, November 8th. Tsakos Energy Navigation’s dividend payout ratio is presently 100.00%.

A number of analysts have weighed in on the company. BidaskClub cut Tsakos Energy Navigation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Jefferies Group restated a “buy” rating and issued a $6.00 price target on shares of Tsakos Energy Navigation in a research note on Tuesday, September 12th. Cowen cut their price target on Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, September 15th. Morgan Stanley cut their price target on Tsakos Energy Navigation from $6.00 to $5.50 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Finally, Maxim Group restated a “buy” rating and issued a $6.00 price target on shares of Tsakos Energy Navigation in a research note on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $5.50.

An institutional investor recently raised its position in Tsakos Energy Navigation stock. State Street Corp grew its position in shares of Tsakos Energy Navigation Ltd. (NYSE:TNP) by 15.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 112,100 shares of the shipping company’s stock after purchasing an additional 15,231 shares during the quarter. State Street Corp owned approximately 0.13% of Tsakos Energy Navigation worth $538,000 as of its most recent filing with the SEC. 26.07% of the stock is owned by hedge funds and other institutional investors.

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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.

Earnings History for Tsakos Energy Navigation (NYSE:TNP)

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