TSAKOS ENERGY N/SH (TNP) Expected to Announce Quarterly Sales of $121.41 Million

Brokerages expect TSAKOS ENERGY N/SH (NYSE:TNP) to report $121.41 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for TSAKOS ENERGY N/SH’s earnings, with the lowest sales estimate coming in at $111.00 million and the highest estimate coming in at $129.09 million. TSAKOS ENERGY N/SH reported sales of $106.64 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.9%. The business is scheduled to issue its next quarterly earnings report on Monday, March 11th.

On average, analysts expect that TSAKOS ENERGY N/SH will report full year sales of $403.93 million for the current fiscal year, with estimates ranging from $390.90 million to $414.65 million. For the next financial year, analysts anticipate that the business will post sales of $472.73 million, with estimates ranging from $447.90 million to $521.87 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow TSAKOS ENERGY N/SH.

TSAKOS ENERGY N/SH (NYSE:TNP) last released its quarterly earnings data on Friday, November 30th. The shipping company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.09). TSAKOS ENERGY N/SH had a negative net margin of 9.04% and a negative return on equity of 2.18%. The firm had revenue of $92.60 million during the quarter, compared to analysts’ expectations of $99.89 million.

Several equities analysts recently weighed in on the company. Wells Fargo & Co dropped their price objective on TSAKOS ENERGY N/SH from $3.20 to $3.00 and set a “buy” rating for the company in a research note on Monday. Maxim Group reaffirmed a “buy” rating and issued a $4.50 price objective on shares of TSAKOS ENERGY N/SH in a research note on Monday, November 19th. Finally, Zacks Investment Research raised TSAKOS ENERGY N/SH from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. TSAKOS ENERGY N/SH has an average rating of “Buy” and a consensus price target of $4.93.

NYSE TNP opened at $3.29 on Friday. TSAKOS ENERGY N/SH has a 1-year low of $3.00 and a 1-year high of $4.15. The company has a market capitalization of $285.22 million, a P/E ratio of 13.71 and a beta of 1.00. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 0.90.

Large investors have recently made changes to their positions in the business. WealthTrust Axiom LLC grew its holdings in TSAKOS ENERGY N/SH by 20.8% during the 3rd quarter. WealthTrust Axiom LLC now owns 399,150 shares of the shipping company’s stock valued at $1,353,000 after buying an additional 68,650 shares during the last quarter. FMR LLC grew its holdings in TSAKOS ENERGY N/SH by 11.1% during the 2nd quarter. FMR LLC now owns 500,307 shares of the shipping company’s stock valued at $1,861,000 after buying an additional 50,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in TSAKOS ENERGY N/SH during the 3rd quarter valued at $4,025,000. Finally, Renaissance Technologies LLC grew its holdings 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 buying an additional 62,300 shares during the last quarter. Hedge funds and other institutional investors own 23.21% of the company’s stock.

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

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