Tsakos Energy Navigation (NYSE:TNP) Releases Earnings Results, Beats Expectations By $0.07 EPS

Tsakos Energy Navigation (NYSE:TNP) released its earnings results on Wednesday. The shipping company reported ($1.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.07, MarketWatch Earnings reports. Tsakos Energy Navigation had a negative net margin of 0.34% and a positive return on equity of 1.38%.

Shares of NYSE TNP traded down $0.38 during mid-day trading on Friday, hitting $10.40. 6,530 shares of the company’s stock traded hands, compared to its average volume of 118,199. The company’s 50-day moving average is $8.24 and its two-hundred day moving average is $8.69. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.84 and a quick ratio of 0.78. The company has a market capitalization of $189.24 million, a P/E ratio of -4.38 and a beta of 0.44. Tsakos Energy Navigation has a 1 year low of $6.75 and a 1 year high of $12.29.

A number of research firms recently weighed in on TNP. Zacks Investment Research cut shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Tuesday, September 21st. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Tsakos Energy Navigation in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.44.

An institutional investor recently raised its position in Tsakos Energy Navigation stock. Morgan Stanley boosted its position in shares of Tsakos Energy Navigation Limited (NYSE:TNP) by 200.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,700 shares of the shipping company’s stock after purchasing an additional 17,140 shares during the period. Morgan Stanley owned about 0.14% of Tsakos Energy Navigation worth $221,000 as of its most recent SEC filing. Institutional investors own 23.90% of the company’s stock.

Tsakos Energy Navigation Company Profile

Tsakos Energy Navigation Ltd. engages in the provision of seaborne crude oil and petroleum product transportation services. Its activities include the operation of crude tankers, product tankers, and liquefied natural gas carriers. The company was founded by Nikolas P. Tsakos and Michael Gordon Jolliffee in July 1993 and is headquartered in Athens, Greece.

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Earnings History for Tsakos Energy Navigation (NYSE:TNP)

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