Brokerages Expect TSAKOS ENERGY N/SH (TNP) Will Post Earnings of -$0.19 Per Share

Equities research analysts expect TSAKOS ENERGY N/SH (NYSE:TNP) to report ($0.19) earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for TSAKOS ENERGY N/SH’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.26). TSAKOS ENERGY N/SH reported earnings per share of ($0.12) during the same quarter last year, which suggests a negative year over year growth rate of 58.3%. The company is expected to announce its next quarterly earnings results on Thursday, November 29th.

On average, analysts expect that TSAKOS ENERGY N/SH will report full year earnings of ($0.67) per share for the current financial year, with EPS estimates ranging from ($0.76) to ($0.56). For the next financial year, analysts forecast that the business will report earnings of $0.09 per share, with EPS estimates ranging from ($0.51) to $0.67. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for TSAKOS ENERGY N/SH.

TSAKOS ENERGY N/SH (NYSE:TNP) last announced its earnings results on Friday, September 7th. The shipping company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. TSAKOS ENERGY N/SH had a negative return on equity of 1.47% and a negative net margin of 6.87%. The firm had revenue of $94.52 million for the quarter, compared to the consensus estimate of $96.46 million.

A number of analysts have recently commented on TNP shares. Seaport Global Securities reissued a “buy” rating and issued a $6.00 price objective on shares of TSAKOS ENERGY N/SH in a research note on Friday, July 27th. Wells Fargo & Co dropped their price objective on TSAKOS ENERGY N/SH from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, September 10th. Finally, Zacks Investment Research raised TSAKOS ENERGY N/SH from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $5.00.

TNP opened at $3.25 on Friday. TSAKOS ENERGY N/SH has a one year low of $3.11 and a one year high of $4.86. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.60 and a current ratio of 0.65. The firm has a market capitalization of $287.77 million, a PE ratio of 13.54 and a beta of 1.02.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Friday, November 30th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date is Thursday, November 29th. TSAKOS ENERGY N/SH’s dividend payout ratio is presently 83.33%.

Institutional investors and hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System raised its position in shares of TSAKOS ENERGY N/SH by 5.5% during the first quarter. California Public Employees Retirement System now owns 730,443 shares of the shipping company’s stock worth $2,410,000 after purchasing an additional 38,243 shares during the period. Stifel Financial Corp raised its position in shares of TSAKOS ENERGY N/SH by 88.5% during the first quarter. Stifel Financial Corp now owns 392,994 shares of the shipping company’s stock worth $1,301,000 after purchasing an additional 184,547 shares during the period. FMR LLC raised its position in shares of TSAKOS ENERGY N/SH by 11.1% during the second quarter. FMR LLC now owns 500,307 shares of the shipping company’s stock worth $1,861,000 after purchasing an additional 50,000 shares during the period. Guggenheim Capital LLC raised its position in shares of TSAKOS ENERGY N/SH by 21.5% during the first quarter. Guggenheim Capital LLC now owns 764,449 shares of the shipping company’s stock worth $2,523,000 after purchasing an additional 135,253 shares during the period. Finally, GSA Capital Partners LLP raised its position in shares of TSAKOS ENERGY N/SH by 240.3% during the first quarter. GSA Capital Partners LLP now owns 88,749 shares of the shipping company’s stock worth $293,000 after purchasing an additional 62,673 shares during the period. 23.32% of the stock is currently owned by institutional investors.

TSAKOS ENERGY N/SH Company Profile

Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. As of April 20, 2018, it operated a fleet of 64 double-hull vessels, including 59 conventional tankers, 2 liquefied natural gas carriers, and 3 suezmax DP2 shuttle tankers.

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Earnings History and Estimates for TSAKOS ENERGY N/SH (NYSE:TNP)

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