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

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

TNP stock traded down $0.27 during trading on Friday, reaching $10.51. 1,813 shares of the company traded hands, compared to its average volume of 118,199. Tsakos Energy Navigation has a 12 month low of $6.75 and a 12 month high of $12.29. The business has a 50 day simple moving average of $8.24 and a 200 day simple moving average of $8.69. The company has a market capitalization of $191.24 million, a price-to-earnings ratio of -4.42 and a beta of 0.44. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.84.

An institutional investor recently raised its position in Tsakos Energy Navigation stock. Morgan Stanley grew its holdings in Tsakos Energy Navigation Limited (NYSE:TNP) by 200.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,700 shares of the shipping company’s stock after acquiring an additional 17,140 shares during the quarter. Morgan Stanley owned 0.14% of Tsakos Energy Navigation worth $221,000 at the end of the most recent reporting period. 23.90% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on TNP. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Tsakos Energy Navigation in a research note on Wednesday, June 30th. Zacks Investment Research lowered Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a research note on Tuesday, September 21st. One research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.44.

About Tsakos Energy Navigation

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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