Todays Report: The Tsakos Energy Navigation Ltd. (TNP) to Post Q3 2016 Earnings of $0.03 Per Share, Seaport Global Securities Forecasts

The Tsakos Energy Navigation Ltd. (TNP) to Post Q3 2016 Earnings of $0.03 Per Share, Seaport Global Securities Forecasts

Tsakos Energy Navigation Ltd. (NYSE:TNP) – Investment analysts at Seaport Global Securities lowered their Q3 2016 earnings per share estimates for shares of Tsakos Energy Navigation in a research report issued on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the firm will earn $0.03 per share for the quarter, down from their previous estimate of $0.05. Seaport Global Securities also issued estimates for Tsakos Energy Navigation’s Q1 2017 earnings at $0.23 EPS, Q2 2017 earnings at $0.31 EPS and Q4 2017 earnings at $0.31 EPS.

Tsakos Energy Navigation (NYSE:TNP) last released its quarterly earnings data on Friday, September 9th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. Tsakos Energy Navigation had a net margin of 23.06% and a return on equity of 8.60%. The firm had revenue of $119.85 million for the quarter. During the same period last year, the business posted $0.45 earnings per share. The firm’s quarterly revenue was down 22.1% on a year-over-year basis.

TNP has been the topic of several other reports. Zacks Investment Research downgraded shares of Tsakos Energy Navigation from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $6.50 target price (down from $8.00) on shares of Tsakos Energy Navigation in a research note on Friday, August 26th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $9.00 target price on shares of Tsakos Energy Navigation in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $8.50.

Tsakos Energy Navigation (NYSE:TNP) opened at 4.87 on Wednesday. Tsakos Energy Navigation has a 1-year low of $4.48 and a 1-year high of $9.25. The company has a market capitalization of $416.43 million, a price-to-earnings ratio of 3.99 and a beta of 1.90. The firm has a 50 day moving average of $4.97 and a 200-day moving average of $5.44.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Tsakos Energy Navigation by 200,529.6% in the first quarter. JPMorgan Chase & Co. now owns 162,510 shares of the company’s stock worth $1,004,000 after buying an additional 162,429 shares during the last quarter. Kennedy Capital Management Inc. increased its position in shares of Tsakos Energy Navigation by 85.9% in the first quarter. Kennedy Capital Management Inc. now owns 377,771 shares of the company’s stock worth $2,335,000 after buying an additional 174,529 shares during the last quarter. LPL Financial LLC increased its position in shares of Tsakos Energy Navigation by 0.4% in the first quarter. LPL Financial LLC now owns 138,200 shares of the company’s stock worth $791,000 after buying an additional 520 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Tsakos Energy Navigation by 49.5% in the second quarter. GSA Capital Partners LLP now owns 380,847 shares of the company’s stock worth $1,786,000 after buying an additional 126,115 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Tsakos Energy Navigation by 58.8% in the first quarter. Goldman Sachs Group Inc. now owns 507,899 shares of the company’s stock worth $3,139,000 after buying an additional 187,989 shares during the last quarter. 31.29% of the stock is currently owned by institutional investors and hedge funds.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, November 4th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date is Wednesday, November 2nd. Tsakos Energy Navigation’s payout ratio is currently 26.02%.

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