TSAKOS ENERGY N/SH (NYSE:TNP) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

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TSAKOS ENERGY N/SH (NYSE:TNP) posted its quarterly earnings data on Friday. The shipping company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01), Morningstar.com reports. The firm had revenue of $108.83 million during the quarter, compared to analyst estimates of $99.61 million. TSAKOS ENERGY N/SH had a negative net margin of 13.80% and a negative return on equity of 0.64%.

Shares of NYSE TNP opened at $2.97 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.06 and a quick ratio of 0.99. The stock has a fifty day moving average price of $3.01 and a 200 day moving average price of $3.18. TSAKOS ENERGY N/SH has a 1-year low of $2.56 and a 1-year high of $3.73. The company has a market cap of $266.32 million, a PE ratio of -3.86 and a beta of 1.32.

Hedge funds and other institutional investors have recently modified their holdings of the stock. NEXT Financial Group Inc acquired a new stake in shares of TSAKOS ENERGY N/SH during the second quarter worth $271,000. WealthTrust Axiom LLC lifted its holdings in shares of TSAKOS ENERGY N/SH by 4.4% during the second quarter. WealthTrust Axiom LLC now owns 434,002 shares of the shipping company’s stock worth $1,427,000 after purchasing an additional 18,352 shares during the period. Stephens Inc. AR lifted its holdings in shares of TSAKOS ENERGY N/SH by 43.3% during the first quarter. Stephens Inc. AR now owns 32,348 shares of the shipping company’s stock worth $100,000 after purchasing an additional 9,778 shares during the period. Eaton Vance Management lifted its holdings in shares of TSAKOS ENERGY N/SH by 95.9% during the second quarter. Eaton Vance Management now owns 33,300 shares of the shipping company’s stock worth $110,000 after purchasing an additional 16,300 shares during the period. Finally, Susquehanna International Group LLP lifted its holdings in shares of TSAKOS ENERGY N/SH by 420.3% during the second quarter. Susquehanna International Group LLP now owns 139,123 shares of the shipping company’s stock worth $458,000 after purchasing an additional 112,386 shares during the period. 23.11% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research downgraded TSAKOS ENERGY N/SH from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $3.83.

TSAKOS ENERGY N/SH Company Profile

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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Earnings History for TSAKOS ENERGY N/SH (NYSE:TNP)

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