Wall Street brokerages forecast that Tsakos Energy Navigation Limited (NYSE:TNP) will post sales of $96.48 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Tsakos Energy Navigation’s earnings. The highest sales estimate is $99.77 million and the lowest is $94.07 million. Tsakos Energy Navigation posted sales of $146.19 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 34%. The firm is scheduled to announce its next earnings results on Thursday, June 10th.
According to Zacks, analysts expect that Tsakos Energy Navigation will report full year sales of $428.63 million for the current financial year, with estimates ranging from $408.77 million to $458.31 million. For the next fiscal year, analysts anticipate that the company will post sales of $552.66 million, with estimates ranging from $500.62 million to $587.66 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Tsakos Energy Navigation.
Tsakos Energy Navigation (NYSE:TNP) last issued its earnings results on Tuesday, March 23rd. The shipping company reported ($1.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($0.39). Tsakos Energy Navigation had a net margin of 9.77% and a return on equity of 9.73%.
NYSE:TNP traded down $0.24 during mid-day trading on Tuesday, hitting $9.57. The stock had a trading volume of 71,050 shares, compared to its average volume of 104,705. The stock has a 50-day simple moving average of $9.61 and a two-hundred day simple moving average of $8.97. The company has a market capitalization of $174.33 million, a PE ratio of 7.25 and a beta of 0.64. Tsakos Energy Navigation has a twelve month low of $7.06 and a twelve month high of $16.50. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 0.87.
Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley acquired a new stake in Tsakos Energy Navigation in the third quarter valued at $87,000. EWG Elevate Inc. acquired a new stake in Tsakos Energy Navigation in the fourth quarter valued at $100,000. Squarepoint Ops LLC acquired a new stake in Tsakos Energy Navigation in the fourth quarter valued at $106,000. Wells Fargo & Company MN lifted its holdings in Tsakos Energy Navigation by 21.9% in the fourth quarter. Wells Fargo & Company MN now owns 19,282 shares of the shipping company’s stock valued at $155,000 after acquiring an additional 3,461 shares during the period. Finally, WealthTrust Axiom LLC lifted its holdings in Tsakos Energy Navigation by 18.4% in the fourth quarter. WealthTrust Axiom LLC now owns 87,567 shares of the shipping company’s stock valued at $703,000 after acquiring an additional 13,602 shares during the period. 22.70% of the stock is owned by institutional investors.
Tsakos Energy Navigation 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 2, 2021, it operated a fleet of 66 double-hull vessels, comprising of 61 conventional tankers, two LNG carriers, and three suezmax DP2 shuttle tankers.
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