Brokerages expect that Tsakos Energy Navigation Ltd. (NYSE:TNP) will announce sales of $108.68 million for the current quarter, Zacks reports. Three analysts have issued estimates for Tsakos Energy Navigation’s earnings, with estimates ranging from $104.22 million to $116.40 million. Tsakos Energy Navigation posted sales of $108.16 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The company is scheduled to report its next earnings report on Friday, May 11th.
On average, analysts expect that Tsakos Energy Navigation will report full year sales of $108.68 million for the current financial year, with estimates ranging from $426.05 million to $471.62 million. For the next fiscal year, analysts expect that the business will report sales of $509.11 million per share, with estimates ranging from $420.38 million to $570.46 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Tsakos Energy Navigation.
Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings results on Monday, March 12th. The shipping company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.07. Tsakos Energy Navigation had a return on equity of 1.34% and a net margin of 1.44%. The firm had revenue of $106.64 million during the quarter, compared to the consensus estimate of $110.06 million.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNP. Ameriprise Financial Inc. increased its holdings in Tsakos Energy Navigation by 7.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 29,339 shares of the shipping company’s stock worth $141,000 after buying an additional 2,104 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Tsakos Energy Navigation in the 4th quarter worth about $237,000. Virtu Financial LLC increased its holdings in Tsakos Energy Navigation by 679.3% in the 4th quarter. Virtu Financial LLC now owns 83,904 shares of the shipping company’s stock worth $328,000 after buying an additional 73,138 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Tsakos Energy Navigation by 534.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 95,609 shares of the shipping company’s stock worth $374,000 after buying an additional 80,538 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Tsakos Energy Navigation in the 4th quarter worth about $466,000. Institutional investors own 27.23% of the company’s stock.
Shares of Tsakos Energy Navigation (NYSE TNP) traded down $0.04 during trading hours on Friday, hitting $3.58. The stock had a trading volume of 281,935 shares, compared to its average volume of 335,481. Tsakos Energy Navigation has a 1 year low of $3.11 and a 1 year high of $5.27. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 0.99. The company has a market capitalization of $302.05, a P/E ratio of 17.90, a PEG ratio of 3.37 and a beta of 1.37.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Thursday, May 3rd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, May 2nd. This represents a $0.20 annualized dividend and a yield of 5.59%. Tsakos Energy Navigation’s payout ratio is 100.00%.
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Tsakos Energy Navigation Company Profile
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. The Company consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and liquefied natural gas (LNG) carriers, totaling 7.2 million deadweight.
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