$108.39 Million in Sales Expected for Tsakos Energy Navigation Limited (NYSE:TNP) This Quarter

Wall Street brokerages expect Tsakos Energy Navigation Limited (NYSE:TNPGet Rating) to post $108.39 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Tsakos Energy Navigation’s earnings. The highest sales estimate is $117.71 million and the lowest is $94.56 million. Tsakos Energy Navigation reported sales of $91.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.2%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Tsakos Energy Navigation will report full-year sales of $520.56 million for the current year, with estimates ranging from $431.53 million to $588.96 million. For the next financial year, analysts forecast that the company will report sales of $549.88 million, with estimates ranging from $480.56 million to $593.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Tsakos Energy Navigation.

Tsakos Energy Navigation (NYSE:TNPGet Rating) last issued its quarterly earnings data on Thursday, April 14th. The shipping company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.50). Tsakos Energy Navigation had a negative return on equity of 4.38% and a negative net margin of 27.72%.

A number of brokerages recently weighed in on TNP. Jefferies Financial Group began coverage on Tsakos Energy Navigation in a research report on Wednesday, April 27th. They set a “buy” rating and a $15.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Tsakos Energy Navigation in a research report on Monday, April 18th. StockNews.com lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. Finally, Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research report on Tuesday, March 29th.

Large investors have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in shares of Tsakos Energy Navigation in the 4th quarter valued at about $26,000. Bank of America Corp DE raised 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 period. Wells Fargo & Company MN raised 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 period. LPL Financial LLC raised 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 period. Finally, Morgan Stanley raised 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 period. 32.50% of the stock is currently owned by institutional investors.

Shares of TNP stock opened at $13.11 on Friday. The firm has a market capitalization of $238.55 million, a P/E ratio of -1.45 and a beta of -0.18. Tsakos Energy Navigation has a twelve month low of $6.75 and a twelve month high of $13.49. The stock’s fifty day simple moving average is $10.05 and its 200 day simple moving average is $8.65.

Tsakos Energy Navigation Company Profile (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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