In a report released today, James Jang from Maxim Group maintained a Buy rating on Tsakos Energy (NYSE: TNP), with a price target of $4.50. The company’s shares opened today at $3.29, close to its 52-week low of $3.11.
Jang said:
“Tsakos Energy Navigation (TNP) reported 2Q18 results pre-open with a better than expected operating loss of ($0.18) versus our estimate of a loss of ($0.20), and consensus of ($0.19).”
According to TipRanks.com, Jang is a 4-star analyst with an average return of 15.0% and a 44.1% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP, Nordic American Tanker, and Eagle Bulk Shipping.
Currently, the analyst consensus on Tsakos Energy is a Strong Buy with an average price target of $5, representing a 52.0% upside. In a report issued on August 27, Drewry Financial also upgraded the stock to Buy with a $4 price target.
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Tsakos Energy’s market cap is currently $283.4M and has a P/E ratio of 15.62. The company has a Price to Book ratio of 0.19.
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Tsakos Energy Navigation Ltd. engages in the provision of maritime transportation of crude oil nad other products. 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.
