Wall Street analysts predict that TSAKOS ENERGY N/SH (NYSE:TNP) will report $106.83 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for TSAKOS ENERGY N/SH’s earnings, with the highest sales estimate coming in at $112.76 million and the lowest estimate coming in at $100.89 million. TSAKOS ENERGY N/SH posted sales of $92.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.4%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, November 26th.
On average, analysts expect that TSAKOS ENERGY N/SH will report full-year sales of $492.04 million for the current fiscal year, with estimates ranging from $435.64 million to $548.43 million. For the next fiscal year, analysts expect that the firm will report sales of $569.55 million, with estimates ranging from $549.89 million to $589.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow TSAKOS ENERGY N/SH.
TSAKOS ENERGY N/SH (NYSE:TNP) last issued its earnings results on Friday, September 6th. The shipping company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). TSAKOS ENERGY N/SH had a negative return on equity of 0.02% and a negative net margin of 11.59%. The company had revenue of $108.83 million during the quarter, compared to analysts’ expectations of $99.61 million.
Several brokerages recently issued reports on TNP. ValuEngine cut shares of TSAKOS ENERGY N/SH from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Zacks Investment Research upgraded shares of TSAKOS ENERGY N/SH from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $3.83.
TNP stock traded up $0.11 on Friday, hitting $3.48. The company had a trading volume of 207,318 shares, compared to its average volume of 168,114. TSAKOS ENERGY N/SH has a 12-month low of $2.56 and a 12-month high of $4.00. The company has a current ratio of 1.08, a quick ratio of 1.03 and a debt-to-equity ratio of 0.94. The stock’s 50-day simple moving average is $3.53 and its 200 day simple moving average is $3.22. The stock has a market cap of $301.09 million, a price-to-earnings ratio of -4.52 and a beta of 1.30.
Several institutional investors have recently modified their holdings of TNP. Renaissance Technologies LLC boosted its stake in shares of TSAKOS ENERGY N/SH by 7.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,612,600 shares of the shipping company’s stock worth $8,595,000 after acquiring an additional 190,200 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in shares of TSAKOS ENERGY N/SH during the 3rd quarter worth $478,000. Acadian Asset Management LLC boosted its stake in shares of TSAKOS ENERGY N/SH by 1,687.4% during the 2nd quarter. Acadian Asset Management LLC now owns 142,795 shares of the shipping company’s stock worth $469,000 after acquiring an additional 134,806 shares during the last quarter. Susquehanna International Group LLP boosted its stake in shares of TSAKOS ENERGY N/SH by 420.3% during the 2nd quarter. Susquehanna International Group LLP now owns 139,123 shares of the shipping company’s stock worth $458,000 after acquiring an additional 112,386 shares during the last quarter. Finally, NEXT Financial Group Inc purchased a new position in shares of TSAKOS ENERGY N/SH during the 2nd quarter worth $271,000. Institutional investors and hedge funds own 23.83% of the company’s stock.
About TSAKOS ENERGY N/SH
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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