Tsakos Energy Navigation Ltd. (NYSE:TNP) – Equities researchers at Seaport Global Securities reduced their Q2 2018 earnings per share estimates for shares of Tsakos Energy Navigation in a note issued to investors on Monday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will earn $0.02 per share for the quarter, down from their prior forecast of $0.04. Seaport Global Securities also issued estimates for Tsakos Energy Navigation’s Q1 2019 earnings at $0.19 EPS, Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.22 EPS and FY2019 earnings at $0.82 EPS.
Several other equities analysts also recently weighed in on TNP. Maxim Group set a $6.00 price objective on Tsakos Energy Navigation and gave the company a “buy” rating in a research note on Friday, November 17th. ValuEngine downgraded Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Jefferies Group initiated coverage on Tsakos Energy Navigation in a research note on Monday, December 18th. They issued a “buy” rating and a $6.00 price objective for the company. Zacks Investment Research downgraded Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 20th. Finally, Stifel Nicolaus set a $6.00 price objective on Tsakos Energy Navigation and gave the company a “buy” rating in a research note on Wednesday, January 24th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $5.00.
Tsakos Energy Navigation (NYSE:TNP) last released its quarterly earnings data on Monday, March 12th. The shipping company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.07. Tsakos Energy Navigation had a return on equity of 1.34% and a net margin of 1.44%. The firm had revenue of $106.64 million during the quarter, compared to the consensus estimate of $110.06 million.
A number of large investors have recently made changes to their positions in the business. Millennium Management LLC acquired a new stake in shares of Tsakos Energy Navigation during the fourth quarter worth $466,000. Goldman Sachs Group Inc. acquired a new stake in shares of Tsakos Energy Navigation during the fourth quarter worth $237,000. Kopernik Global Investors LLC boosted its holdings in shares of Tsakos Energy Navigation by 12.8% during the fourth quarter. Kopernik Global Investors LLC now owns 5,376,985 shares of the shipping company’s stock worth $21,024,000 after purchasing an additional 610,088 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Tsakos Energy Navigation by 534.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 95,609 shares of the shipping company’s stock worth $374,000 after purchasing an additional 80,538 shares during the last quarter. Finally, Afam Capital Inc. boosted its holdings in shares of Tsakos Energy Navigation by 2.8% during the fourth quarter. Afam Capital Inc. now owns 566,948 shares of the shipping company’s stock worth $2,217,000 after purchasing an additional 15,710 shares during the last quarter. Hedge funds and other institutional investors own 27.23% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Thursday, May 3rd will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date is Wednesday, May 2nd. Tsakos Energy Navigation’s dividend payout ratio (DPR) is presently -111.10%.
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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. The Company consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and liquefied natural gas (LNG) carriers, totaling 7.2 million deadweight.
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