Revenue Update on Tsakos Energy Navigation Ltd.(NYSE:TNP)

Tsakos Energy Navigation Ltd.(NYSE:TNP) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Mar 17, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $130.664M. Analysts estimated a revenue of $113.030M. The revenues were 15.6% above the estimates. Earnings per share were $0.1. The reported EPS was above estimates by 11.11%. Analysts had estimated an EPS of $0.09.

In a different note, Maxim Group said it Initiates Coverage On Tsakos Energy Navigation Ltd., according to a research note issued on Dec 20, 2016. In the research note, the firm Announces the price-target to $9 per share. The shares have been rated ‘Buy’ by the firm.

Tsakos Energy Navigation Ltd. (TNP) shares turned negative on Wednesdays trading session with the shares closing down -0.08 points or -1.72% at a volume of 3,37,646. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.701. The peak price level was also seen at $4.701 while the days lowest was $4.52. Finally the shares closed at $4.58. The 52-week high of the shares is $6.67 while the 52-week low is $3.92. According to the latest information available, the market cap of the company is $381 M.

Tsakos Energy Navigation Limited is a provider of international seaborne crude oil and petroleum product transportation services. As of April 8 2015 the Company operated a fleet of 47 modern crude oil and petroleum product tankers that provide marine transportation services for national and other independent oil companies and refiners under long medium and short-term charters. The Company’s fleet also includes one liquefied natural gas (LNG) carrier and two shuttle suezmax tankers with dynamic positioning technology (DP2) as well as VLCC aframax panamax handysize handymax tankers and the two DP2 shuttle tankers. Its fleet is managed by Tsakos Energy Management Limited (Tsakos Energy Management). Tsakos Energy Management provides the Company with advisory financial accounting and administrative services. Its tanker fleet’s technical management including crewing maintenance and repair and voyage operations is subcontracted to Tsakos Columbia Shipmanagement (TCM).

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