Brokerages Anticipate Tsakos Energy Navigation Ltd. (TNP) Will Post Quarterly Sales of $114.70 Million

Analysts expect that Tsakos Energy Navigation Ltd. (NYSE:TNP) will post $114.70 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Tsakos Energy Navigation’s earnings, with the highest sales estimate coming in at $119.61 million and the lowest estimate coming in at $109.90 million. Tsakos Energy Navigation reported sales of $99.08 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.8%. The business is scheduled to issue its next earnings results on Friday, March 16th.

According to Zacks, analysts expect that Tsakos Energy Navigation will report full year sales of $114.70 million for the current year, with estimates ranging from $416.08 million to $428.75 million. For the next year, analysts anticipate that the business will report sales of $479.08 million per share, with estimates ranging from $433.13 million to $518.29 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Tsakos Energy Navigation.

Tsakos Energy Navigation (NYSE:TNP) last posted its quarterly earnings data on Thursday, November 30th. The shipping company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). The company had revenue of $96.92 million for the quarter, compared to the consensus estimate of $101.62 million. Tsakos Energy Navigation had a net margin of 5.64% and a return on equity of 2.02%.

A number of analysts have commented on TNP shares. Maxim Group set a $6.00 target price on Tsakos Energy Navigation and gave the stock a “buy” rating in a report on Friday, November 17th. Stifel Nicolaus set a $7.00 target price on Tsakos Energy Navigation and gave the stock a “buy” rating in a report on Sunday, October 29th. Jefferies Group started coverage on Tsakos Energy Navigation in a report on Monday, December 18th. They issued a “buy” rating and a $6.00 target price for the company. Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 20th. Finally, ValuEngine lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.50.

Several institutional investors and hedge funds have recently modified their holdings of TNP. Kopernik Global Investors LLC grew its holdings in shares of Tsakos Energy Navigation by 20.5% in the third quarter. Kopernik Global Investors LLC now owns 4,766,897 shares of the shipping company’s stock worth $21,404,000 after acquiring an additional 811,357 shares during the period. Northern Trust Corp grew its holdings in shares of Tsakos Energy Navigation by 795.2% in 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 period. Russell Investments Group Ltd. grew its holdings in shares of Tsakos Energy Navigation by 37.6% in the third quarter. Russell Investments Group Ltd. now owns 2,391,789 shares of the shipping company’s stock worth $10,739,000 after acquiring an additional 653,517 shares during the period. Afam Capital Inc. grew its holdings in shares of Tsakos Energy Navigation by 69.8% in the second quarter. Afam Capital Inc. now owns 540,084 shares of the shipping company’s stock worth $2,592,000 after acquiring an additional 221,995 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Tsakos Energy Navigation by 218.3% in the third quarter. JPMorgan Chase & Co. now owns 323,107 shares of the shipping company’s stock worth $1,473,000 after acquiring an additional 221,587 shares during the period. 25.96% of the stock is owned by institutional investors.

Shares of Tsakos Energy Navigation (TNP) opened at $3.95 on Friday. The company has a market capitalization of $333.27, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 0.99 and a beta of 1.52. Tsakos Energy Navigation has a fifty-two week low of $3.82 and a fifty-two week high of $5.27. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.02.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Thursday, December 21st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.06%. The ex-dividend date was Wednesday, December 20th. Tsakos Energy Navigation’s payout ratio is currently 100.00%.

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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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