Tsakos Energy Navigation (NYSE:TNP – Get Rating) announced its quarterly earnings results on Wednesday. The shipping company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.22), Fidelity Earnings reports. Tsakos Energy Navigation had a negative net margin of 11.80% and a positive return on equity of 0.88%. During the same quarter in the prior year, the company earned ($1.18) EPS.
Tsakos Energy Navigation Trading Up 3.6 %
Shares of NYSE:TNP opened at $18.51 on Friday. Tsakos Energy Navigation has a one year low of $6.95 and a one year high of $18.85. The company has a 50 day moving average of $13.67 and a 200-day moving average of $11.44. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 0.94.
Tsakos Energy Navigation Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 20th. Stockholders of record on Thursday, July 14th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Wednesday, July 13th. Tsakos Energy Navigation’s dividend payout ratio is -7.17%.
Institutional Investors Weigh In On Tsakos Energy Navigation
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Jefferies Financial Group raised shares of Tsakos Energy Navigation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $25.00 in a research note on Tuesday, September 6th.
About Tsakos Energy Navigation
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 21, 2022, it operated a fleet of 66 double-hull vessels, comprising of 60 conventional tankers, three LNG carriers, and three suezmax DP2 shuttle tankers.
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