Tsakos Energy Navigation Ltd. (TNP) to Post FY2017 Earnings of $0.13 Per Share, Jefferies Group Forecasts

Tsakos Energy Navigation Ltd. (NYSE:TNP) – Equities research analysts at Jefferies Group issued their FY2017 earnings per share estimates for shares of Tsakos Energy Navigation in a research report issued on Monday. Jefferies Group analyst R. Giveans anticipates that the shipping company will post earnings per share of $0.13 for the year. Jefferies Group has a “Buy” rating and a $6.00 price objective on the stock. Jefferies Group also issued estimates for Tsakos Energy Navigation’s Q4 2017 earnings at $0.13 EPS and FY2018 earnings at $0.98 EPS.

Other analysts have also issued research reports about the company. Cowen dropped their target price on Tsakos Energy Navigation from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, September 15th. Maxim Group set a $6.00 target price on Tsakos Energy Navigation and gave the stock a “buy” rating in a report on Thursday, November 30th. Morgan Stanley dropped their target price on Tsakos Energy Navigation from $6.00 to $5.50 and set an “overweight” rating on the stock in a report on Monday, September 18th. BidaskClub upgraded Tsakos Energy Navigation from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, ValuEngine lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.50.

Tsakos Energy Navigation (NYSE:TNP) opened at $3.92 on Wednesday. Tsakos Energy Navigation has a 52 week low of $3.82 and a 52 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 stock has a market capitalization of $331.91, a PE ratio of 35.54, a price-to-earnings-growth ratio of 9.02 and a beta of 1.51.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in Tsakos Energy Navigation by 7.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 29,339 shares of the shipping company’s stock worth $141,000 after purchasing an additional 2,104 shares during the last quarter. WFG Advisors LP raised its position in Tsakos Energy Navigation by 0.3% during the 2nd quarter. WFG Advisors LP now owns 51,763 shares of the shipping company’s stock worth $248,000 after purchasing an additional 156 shares during the last quarter. Virtu KCG Holdings LLC raised its position in Tsakos Energy Navigation by 65.2% during the 2nd quarter. Virtu KCG Holdings LLC now owns 52,120 shares of the shipping company’s stock worth $250,000 after purchasing an additional 20,577 shares during the last quarter. State Street Corp raised its position in Tsakos Energy Navigation by 15.7% during the 2nd quarter. State Street Corp now owns 112,100 shares of the shipping company’s stock worth $538,000 after purchasing an additional 15,231 shares during the last quarter. Finally, Blair William & Co. IL raised its position in Tsakos Energy Navigation by 1.2% during the 2nd quarter. Blair William & Co. IL now owns 214,500 shares of the shipping company’s stock worth $1,030,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 25.96% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, December 21st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Wednesday, December 20th. Tsakos Energy Navigation’s payout ratio is 181.82%.

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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.

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

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