Tsakos Energy Navigation Ltd (TNP) Expected to Announce Earnings of -$0.06 Per Share

Wall Street brokerages expect Tsakos Energy Navigation Ltd (NYSE:TNP) to post earnings of ($0.06) per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Tsakos Energy Navigation’s earnings, with the lowest EPS estimate coming in at ($0.11) and the highest estimate coming in at $0.06. Tsakos Energy Navigation posted earnings per share of $0.16 during the same quarter last year, which would indicate a negative year-over-year growth rate of 137.5%. The company is expected to announce its next earnings report on Friday, May 11th.

According to Zacks, analysts expect that Tsakos Energy Navigation will report full year earnings of ($0.03) per share for the current fiscal year, with EPS estimates ranging from ($0.40) to $0.23. For the next financial year, analysts expect that the business will post earnings of $0.68 per share, with EPS estimates ranging from ($0.58) to $1.36. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Tsakos Energy Navigation.

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Tsakos Energy Navigation (NYSE:TNP) last issued its earnings results on Monday, March 12th. The shipping company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.07. Tsakos Energy Navigation had a return on equity of 1.35% and a net margin of 1.44%. The company had revenue of $106.64 million during the quarter, compared to the consensus estimate of $110.06 million.

A number of brokerages have commented on TNP. Stifel Nicolaus set a $6.00 target price on Tsakos Energy Navigation and gave the company a “buy” rating in a research note on Wednesday, January 24th. ValuEngine downgraded Tsakos Energy Navigation from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Jefferies Group started coverage on Tsakos Energy Navigation in a research report on Monday, December 18th. They set a “buy” rating and a $6.00 price objective for the company. JPMorgan Chase reduced their price objective on Tsakos Energy Navigation from $5.50 to $5.00 and set an “overweight” rating for the company in a research report on Friday, March 23rd. Finally, Maxim Group reduced their price objective on Tsakos Energy Navigation from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, March 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Tsakos Energy Navigation currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Tsakos Energy Navigation by 218.3% during the third quarter. JPMorgan Chase & Co. now owns 323,107 shares of the shipping company’s stock worth $1,473,000 after buying an additional 221,587 shares during the period. WealthTrust Axiom LLC raised its holdings in Tsakos Energy Navigation by 18.3% during the fourth quarter. WealthTrust Axiom LLC now owns 332,500 shares of the shipping company’s stock worth $1,300,000 after purchasing an additional 51,500 shares in the last quarter. Kopernik Global Investors LLC raised its holdings in 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 in the last quarter. Afam Capital Inc. raised its holdings in 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 in the last quarter. Finally, Virtu Financial LLC raised its holdings in Tsakos Energy Navigation by 679.3% during the fourth quarter. Virtu Financial LLC now owns 83,904 shares of the shipping company’s stock worth $328,000 after purchasing an additional 73,138 shares in the last quarter. Institutional investors and hedge funds own 27.23% of the company’s stock.

TNP stock traded down $0.01 during midday trading on Thursday, reaching $3.49. The company had a trading volume of 18,504 shares, compared to its average volume of 295,281. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. Tsakos Energy Navigation has a fifty-two week low of $3.11 and a fifty-two week high of $5.27. The company has a market cap of $296.25, a P/E ratio of 14.58 and a beta of 1.26.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Thursday, May 3rd will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, May 2nd. This represents a $0.20 annualized dividend and a dividend yield of 5.73%. Tsakos Energy Navigation’s dividend payout ratio is presently 83.33%.

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About Tsakos Energy Navigation

Tsakos Energy Navigation Limited provides international seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services to national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of April 5, 2017, it operated a fleet of 62 double-hull vessels, including 57 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.

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

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