Tsakos Energy Navigation (TNP) Price Target Cut to $5.00 by Analysts at JPMorgan Chase & Co.

Tsakos Energy Navigation (NYSE:TNP) had its target price reduced by research analysts at JPMorgan Chase & Co. from $5.50 to $5.00 in a note issued to investors on Friday. The brokerage presently has an “overweight” rating on the shipping company’s stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 43.27% from the company’s previous close.

Several other research analysts have also weighed in on the company. Maxim Group lowered their price objective on Tsakos Energy Navigation from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, March 13th. ValuEngine lowered Tsakos Energy Navigation from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Morgan Stanley lowered their price objective on Tsakos Energy Navigation from $5.50 to $4.00 and set an “overweight” rating for the company in a research report on Monday, February 12th. Stifel Nicolaus set a $6.00 price objective on Tsakos Energy Navigation and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 20th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $5.00.

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Tsakos Energy Navigation (NYSE TNP) opened at $3.49 on Friday. The firm has a market capitalization of $302.20, a P/E ratio of -19.39, a P/E/G ratio of 22.65 and a beta of 1.37. Tsakos Energy Navigation has a 52-week low of $3.11 and a 52-week 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.

Tsakos Energy Navigation (NYSE:TNP) last issued its quarterly earnings data on Monday, March 12th. The shipping company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.07. The company had revenue of $106.64 million during the quarter, compared to analyst estimates of $110.06 million. Tsakos Energy Navigation had a return on equity of 1.34% and a net margin of 1.44%. analysts anticipate that Tsakos Energy Navigation will post 0.02 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Tsakos Energy Navigation by 15.7% during the second quarter. State Street Corp now owns 112,100 shares of the shipping company’s stock worth $538,000 after purchasing an additional 15,231 shares in the last quarter. Afam Capital Inc. lifted its stake in Tsakos Energy Navigation by 2.8% during the fourth quarter. Afam Capital Inc. now owns 566,948 shares of the shipping company’s stock worth $2,217,000 after purchasing an additional 15,710 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Tsakos Energy Navigation by 7.5% during the third quarter. Allianz Asset Management GmbH now owns 312,596 shares of the shipping company’s stock worth $1,403,000 after purchasing an additional 21,759 shares in the last quarter. WealthTrust Axiom LLC lifted its stake in Tsakos Energy Navigation by 18.3% during the fourth quarter. WealthTrust Axiom LLC now owns 332,500 shares of the shipping company’s stock worth $1,300,000 after purchasing an additional 51,500 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Tsakos Energy Navigation during the fourth quarter worth $237,000. Institutional investors own 27.23% of the company’s stock.

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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.

Analyst Recommendations for Tsakos Energy Navigation (NYSE:TNP)

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