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

Tsakos Energy Navigation Ltd.(NYSE:TNP) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Nov 29, 2016. Company reported revenue of $109.18M. Analysts estimated a revenue of $100.03M. The revenues were $9.15M or 9.15% above the estimates. Earnings per share were $-0.02. The reported EPS was below estimates by $-0.05 or NaN%. Analysts had estimated an EPS of $0.03.

Tsakos Energy Navigation Ltd. (TNP) remained unchanged at the close of Tuesday session. Even as the volume increased to 4,58,776 ,the shares failed to make any impression and ended at 0 points or 0.00% at $4.37. The trading session commenced at $4.4 and the stock hit a high of $4.5 and touched $4.31 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $8.12 and the 52-week low is $3.92. The company has a market cap of $368 M and has approximately 8,41,54,576 outstanding shares.

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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