Tsakos Energy Navigation (TNP) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Tsakos Energy Navigation (NYSE:TNP) announced its earnings results on Thursday. The shipping company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02), Yahoo Finance reports. Tsakos Energy Navigation had a net margin of 5.64% and a return on equity of 2.02%. The company had revenue of $96.92 million during the quarter, compared to the consensus estimate of $101.62 million.
Shares of Tsakos Energy Navigation (NYSE:TNP) opened at $4.26 on Friday. Tsakos Energy Navigation has a twelve month low of $3.82 and a twelve month high of $5.28. 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 has a market capitalization of $325.96, a P/E ratio of 34.91, a P/E/G ratio of 2.74 and a beta of 1.52.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, December 21st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.69%. The ex-dividend date is Wednesday, December 20th. Tsakos Energy Navigation’s payout ratio is presently 181.82%.
TNP has been the topic of several analyst reports. Cowen reduced 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. Jefferies Group reiterated a “buy” rating and issued a $6.00 target price on shares of Tsakos Energy Navigation in a report on Tuesday, September 12th. Maxim Group set a $6.00 target price on Tsakos Energy Navigation and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus set a $7.00 target price on Tsakos Energy Navigation and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, Morgan Stanley reduced 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. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $5.50.
A hedge fund recently raised its stake in Tsakos Energy Navigation stock. State Street Corp raised its holdings in Tsakos Energy Navigation Ltd. (NYSE:TNP) by 15.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,100 shares of the shipping company’s stock after buying an additional 15,231 shares during the quarter. State Street Corp owned 0.13% of Tsakos Energy Navigation worth $538,000 as of its most recent SEC filing. 26.07% of the stock is currently owned by hedge funds and other institutional investors.
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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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