Tsakos Energy (TNP) closed at $14.07 last trading session, marking a -1.26% move from the previous day. The change lagged the S&P 500’s 1.73% daily gain. Meanwhile, the Dow Jones gained 1.27% and the tech-heavy Nasdaq gained 0.28%.
Prior to today’s trading, shares of the oil and gas shipping company had gained 53.39% in the past month. This outpaced the transportation sector’s gain of 13.68% and the S&P 500’s gain of 9.34% during this period.
Investors are hoping for strength from Tsakos Energy ahead of its next earnings release. On that day, Tsakos Energy is expected to report earnings of $1.53 per share, which would represent year-over-year growth of 229.66%. Our most recent consensus estimate calls for quarterly revenue of $163.51 million, up 84.03% from the prior year period.
Looking to the full year, our Zacks consensus estimates suggest analysts are expecting earnings of $4.43 per share and revenue of $600.09 million. These totals would mark changes of +183.9% and +72.42%, respectively, from last year.
Any recent changes in analyst estimates for Tsakos Energy should also be noted by investors. Recent revisions tend to reflect the latest short-term trading trends. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business prospects.
Based on our research, we believe that these estimate revisions are directly related to the team’s close stock movements. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable, externally audited track record of success with #1 stocks delivering an average annual return of +25% since 1988. Over the past 30 days, our consensus EPS projection has increased by 5.48%. Tsakos Energy currently sports a Zacks rank of #1 (strong buy).
Digging into the valuation, Tsakos Energy currently has a Forward P/E ratio of 3.22. This represents a discount to the average PER of its sector of 3.64.
The Transport – Shipping industry is part of the Transport sector. This industry currently has a Zacks Industry Rank of 46, which places it in the top 19% of the 250+ industries.
The Zacks Industry Ranking assesses the strength of our individual industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
To follow TNP in upcoming trading sessions, be sure to use Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.