$119.84 Million in Sales Expected for TSAKOS ENERGY N/SH (TNP) This Quarter

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Equities research analysts expect TSAKOS ENERGY N/SH (NYSE:TNP) to announce sales of $119.84 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for TSAKOS ENERGY N/SH’s earnings. The lowest sales estimate is $105.30 million and the highest is $128.70 million. TSAKOS ENERGY N/SH reported sales of $106.64 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.4%. The company is expected to announce its next quarterly earnings report on Monday, March 18th.

On average, analysts expect that TSAKOS ENERGY N/SH will report full-year sales of $404.84 million for the current fiscal year, with estimates ranging from $390.90 million to $414.20 million. For the next fiscal year, analysts expect that the business will report sales of $467.13 million, with estimates ranging from $427.51 million to $523.92 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover TSAKOS ENERGY N/SH.

A number of equities analysts recently issued reports on TNP shares. JPMorgan Chase & Co. cut TSAKOS ENERGY N/SH from an “overweight” rating to a “neutral” rating in a report on Wednesday, January 23rd. Wells Fargo & Co dropped their price objective on TSAKOS ENERGY N/SH from $3.20 to $3.00 and set a “buy” rating on the stock in a research note on Monday, December 3rd. Maxim Group restated a “buy” rating and set a $4.50 price objective on shares of TSAKOS ENERGY N/SH in a research note on Monday, November 19th. Finally, Morgan Stanley cut TSAKOS ENERGY N/SH from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. in a research note on Friday, February 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. TSAKOS ENERGY N/SH presently has a consensus rating of “Hold” and an average target price of $4.50.

A number of large investors have recently modified their holdings of TNP. Mirae Asset Global Investments Co. Ltd. bought a new position in TSAKOS ENERGY N/SH during the 3rd quarter valued at $4,025,000. Renaissance Technologies LLC lifted its stake in TSAKOS ENERGY N/SH by 2.9% during the 3rd quarter. Renaissance Technologies LLC now owns 2,217,100 shares of the shipping company’s stock valued at $7,516,000 after acquiring an additional 62,300 shares in the last quarter. Virtu Financial LLC lifted its stake in TSAKOS ENERGY N/SH by 95.1% during the 4th quarter. Virtu Financial LLC now owns 39,525 shares of the shipping company’s stock valued at $105,000 after acquiring an additional 19,263 shares in the last quarter. Camarda Financial Advisors LLC lifted its stake in TSAKOS ENERGY N/SH by 2,961.6% during the 4th quarter. Camarda Financial Advisors LLC now owns 603,129 shares of the shipping company’s stock valued at $1,604,000 after acquiring an additional 583,429 shares in the last quarter. Finally, WealthTrust Axiom LLC lifted its stake in TSAKOS ENERGY N/SH by 6.3% during the 4th quarter. WealthTrust Axiom LLC now owns 424,150 shares of the shipping company’s stock valued at $1,128,000 after acquiring an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 24.13% of the company’s stock.

Shares of TNP traded down $0.01 during trading hours on Friday, reaching $3.09. The stock had a trading volume of 688,053 shares, compared to its average volume of 104,268. TSAKOS ENERGY N/SH has a 12 month low of $2.56 and a 12 month high of $3.99. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 0.90. The stock has a market cap of $262.30 million, a P/E ratio of 12.88 and a beta of 1.44.

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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