TSAKOS ENERGY N/SH (NYSE:TNP) Expected to Post Quarterly Sales of $103.24 Million
Equities analysts predict that TSAKOS ENERGY N/SH (NYSE:TNP) will report sales of $103.24 million for the current quarter, according to Zacks. Three analysts have provided estimates for TSAKOS ENERGY N/SH’s earnings. The highest sales estimate is $116.93 million and the lowest is $91.43 million. TSAKOS ENERGY N/SH reported sales of $94.52 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.2%. The firm is scheduled to issue its next earnings results on Friday, September 6th.
According to Zacks, analysts expect that TSAKOS ENERGY N/SH will report full year sales of $459.59 million for the current year, with estimates ranging from $428.62 million to $499.98 million. For the next financial year, analysts expect that the business will report sales of $527.29 million, with estimates ranging from $480.31 million to $560.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover TSAKOS ENERGY N/SH.
TSAKOS ENERGY N/SH (NYSE:TNP) last issued its quarterly earnings results on Thursday, June 6th. The shipping company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. TSAKOS ENERGY N/SH had a negative return on equity of 0.63% and a negative net margin of 13.80%. The firm had revenue of $115.48 million for the quarter, compared to analyst estimates of $122.78 million.
Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of TSAKOS ENERGY N/SH in the 1st quarter valued at approximately $25,000. Wealthsource Partners LLC grew its stake in shares of TSAKOS ENERGY N/SH by 36.7% in the 4th quarter. Wealthsource Partners LLC now owns 15,234 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 4,092 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of TSAKOS ENERGY N/SH by 44.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 16,992 shares of the shipping company’s stock valued at $53,000 after purchasing an additional 5,267 shares during the period. Stephens Inc. AR grew its stake in shares of TSAKOS ENERGY N/SH by 43.3% in the 1st quarter. Stephens Inc. AR now owns 32,348 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 9,778 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of TSAKOS ENERGY N/SH by 6.5% in the 1st quarter. Wells Fargo & Company MN now owns 65,093 shares of the shipping company’s stock valued at $202,000 after purchasing an additional 3,979 shares during the period. Institutional investors own 22.42% of the company’s stock.
TNP traded down $0.02 on Friday, hitting $3.17. 200 shares of the stock traded hands, compared to its average volume of 108,049. TSAKOS ENERGY N/SH has a 52 week low of $2.56 and a 52 week high of $3.99. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $280.34 million, a price-to-earnings ratio of -4.13 and a beta of 1.33.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Friday, May 24th were paid a $0.05 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.20 annualized dividend and a dividend yield of 6.31%. TSAKOS ENERGY N/SH’s dividend payout ratio is currently -25.97%.
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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