Tsakos Energy (TNP) closed at $14.07 in the latest trading session, marking a -1.26% move from the prior day. This change lagged the S&P 500's daily gain of 1.73%. At the same time, the Dow added 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% over the past month. This has outpaced the Transportation sector's gain of 13.68% and the S&P 500's gain of 9.34% in that time.
Investors will be hoping for strength from Tsakos Energy as it approaches its next earnings release. On that day, Tsakos Energy is projected to report earnings of $1.53 per share, which would represent year-over-year growth of 229.66%. Our most recent consensus estimate is calling for quarterly revenue of $163.51 million, up 84.03% from the year-ago period.
Looking at 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 to analyst estimates for Tsakos Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.48% higher. Tsakos Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Tsakos Energy currently has a Forward P/E ratio of 3.22. This represents a discount compared to its industry's average Forward P/E of 3.64.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 46, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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