Tsakos Energy Navigation (NYSE:TEN) Downgraded by Zacks Research to Hold

Key Points

• Tsakos Energy Navigation has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, indicating a more cautious outlook from analysts.
• Other firms, including Wall Street Zen, have further downgraded the stock to a "sell" rating, while Jefferies Financial Group raised its price target to $21.00, maintaining a "hold" rating.
• The company reported an EPS of $0.92 for the last quarter, significantly exceeding analysts' expectations of $0.29, yet revenue slightly fell short of projections.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Wall Street Zen downgraded Tsakos Energy Navigation from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Jefferies Financial Group lifted their price target on shares of Tsakos Energy Navigation from $18.00 to $21.00 and gave the stock a "hold" rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.50.

Tsakos Energy Navigation Trading Down 0.5%

Shares of Tsakos Energy Navigation stock opened at $21.59 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.11 and a quick ratio of 1.06. Tsakos Energy Navigation has a 1 year low of $13.40 and a 1 year high of $26.90. The firm has a market cap of $650.37 million, a PE ratio of 4.81 and a beta of -0.09. The company has a 50 day simple moving average of $20.15 and a two-hundred day simple moving average of $18.06.

Tsakos Energy Navigation (NYSE:TEN - Get Free Report) last released its earnings results on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.63. Tsakos Energy Navigation had a return on equity of 14.17% and a net margin of 20.00%.The business had revenue of $153.51 million for the quarter, compared to analysts' expectations of $154.01 million. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Analysts expect that Tsakos Energy Navigation will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tsakos Energy Navigation

Several hedge funds and other institutional investors have recently modified their holdings of TEN. Moors & Cabot Inc. boosted its holdings in shares of Tsakos Energy Navigation by 1.0% during the first quarter. Moors & Cabot Inc. now owns 104,285 shares of the company's stock worth $1,779,000 after purchasing an additional 1,000 shares during the period. Jump Financial LLC lifted its holdings in Tsakos Energy Navigation by 693.1% in the 2nd quarter. Jump Financial LLC now owns 124,223 shares of the company's stock worth $2,384,000 after buying an additional 108,561 shares during the period. New York State Common Retirement Fund bought a new stake in shares of Tsakos Energy Navigation in the 2nd quarter worth approximately $761,000. JPMorgan Chase & Co. purchased a new position in shares of Tsakos Energy Navigation during the second quarter valued at approximately $672,000. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Tsakos Energy Navigation by 42.6% during the second quarter. Balyasny Asset Management L.P. now owns 33,606 shares of the company's stock valued at $645,000 after acquiring an additional 10,038 shares in the last quarter. 19.24% of the stock is owned by institutional investors.

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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