Tsakos Energy Navigation (NYSE:TNP) Posts Earnings Results

Tsakos Energy Navigation (NYSE:TNP) announced its quarterly earnings results on Wednesday. The shipping company reported ($1.18) earnings per share for the quarter, beating the Zacks’ consensus estimate 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 $0.20 during midday trading on Friday, hitting $10.58. 1,710 shares of the company’s stock traded hands, compared to its average volume of 118,199. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.84. The company has a market cap of $192.51 million, a PE ratio of -4.42 and a beta of 0.44. The firm’s fifty day moving average price is $8.24 and its two-hundred day moving average price is $8.69. Tsakos Energy Navigation has a twelve month low of $6.75 and a twelve month high of $12.29.

Several equities analysts recently weighed in on TNP shares. Zacks Investment Research lowered shares of Tsakos Energy Navigation from a “hold” rating to a “sell” rating in a report 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 report on Wednesday, June 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.44.

An institutional investor recently raised its position in Tsakos Energy Navigation stock. Morgan Stanley boosted its position in Tsakos Energy Navigation Limited (NYSE:TNP) by 200.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,700 shares of the shipping company’s stock after buying 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 quarter. 23.90% of the stock is currently owned by institutional investors and hedge funds.

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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