-$0.06 EPS Expected for Tsakos Energy Navigation Limited (NYSE:TNP) This Quarter

Wall Street analysts expect Tsakos Energy Navigation Limited (NYSE:TNPGet Rating) to report earnings per share (EPS) of ($0.06) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Tsakos Energy Navigation’s earnings, with the lowest EPS estimate coming in at ($0.71) and the highest estimate coming in at $0.97. Tsakos Energy Navigation posted earnings per share of ($0.80) in the same quarter last year, which would indicate a positive year over year growth rate of 92.5%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Tsakos Energy Navigation will report full year earnings of $1.80 per share for the current year, with EPS estimates ranging from $0.20 to $3.93. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.36 per share, with EPS estimates ranging from $1.99 to $2.73. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Tsakos Energy Navigation.

A number of equities research analysts recently issued reports on TNP shares. Jefferies Financial Group decreased their price target on Tsakos Energy Navigation from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, December 16th. Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Tuesday, March 29th. StockNews.com assumed coverage on Tsakos Energy Navigation in a research report on Thursday, March 31st. They set a “sell” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Tsakos Energy Navigation in a research report on Friday, December 17th.

Large investors have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC purchased a new position in shares of Tsakos Energy Navigation in the 4th quarter valued at $26,000. Bank of America Corp DE grew its stake in Tsakos Energy Navigation by 217.3% during the 4th quarter. Bank of America Corp DE now owns 7,656 shares of the shipping company’s stock worth $55,000 after buying an additional 5,243 shares during the last quarter. Wells Fargo & Company MN grew its stake in Tsakos Energy Navigation by 46.4% during the 2nd quarter. Wells Fargo & Company MN now owns 24,981 shares of the shipping company’s stock worth $215,000 after buying an additional 7,917 shares during the last quarter. LPL Financial LLC grew its stake in Tsakos Energy Navigation by 130.3% during the 3rd quarter. LPL Financial LLC now owns 25,097 shares of the shipping company’s stock worth $269,000 after buying an additional 14,200 shares during the last quarter. Finally, Morgan Stanley grew its stake in Tsakos Energy Navigation by 200.2% during the 2nd quarter. Morgan Stanley now owns 25,700 shares of the shipping company’s stock worth $221,000 after buying an additional 17,140 shares during the last quarter. Institutional investors and hedge funds own 34.27% of the company’s stock.

Shares of TNP stock traded up $0.84 on Wednesday, reaching $11.41. 204,005 shares of the company’s stock were exchanged, compared to its average volume of 226,749. Tsakos Energy Navigation has a 52 week low of $6.75 and a 52 week high of $12.29. The stock has a market capitalization of $207.62 million, a PE ratio of -1.87 and a beta of 0.11. The company’s fifty day simple moving average is $8.65 and its 200 day simple moving average is $8.39.

About Tsakos Energy Navigation (Get Rating)

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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