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Tsakos Energy Navigation: Digging into Its 2Q17 Results

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Part 2
Tsakos Energy Navigation: Digging into Its 2Q17 Results PART 2 OF 6

Maxim Group Revised Tsakos Energy Navigation’s Target Price

Tsakos Energy Navigation

In the previous part of this series, we discussed Tsakos Energy Navigation’s (TNP) 2Q17 results. Now, we’ll see how analysts revised their recommendations for the company after its results. We’ll also discuss the consensus rating for Tsakos Energy Navigation. Since the beginning of the year, one analyst has dropped Tsakos Energy Navigation from its coverage.

Maxim Group Revised Tsakos Energy Navigation&#8217;s Target Price

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Revisions

After Tsakos Energy Navigation released its 2Q17 results, Maxim Group reduced its target price to $6 from $7 and maintained a “buy” rating on the stock. Only one analyst has revised its recommendation on Tsakos Energy Navigation in 2017. In January, Credit Suisse downgraded Tsakos Energy Navigation to “neutral.”

Consensus rating

According to Reuters, the consensus rating for Tsakos Energy Navigation is 2.09, which means a “buy.” The following are the consensus ratings for Tsakos Energy Navigation’s peers:

  • Nordic American Tankers (NAT) – 3.67 (sell)
  • Teekay Tankers (TNK) – 2.9 (hold)
  • Frontline (FRO) – 3.22 (hold)
  • Gener8 Maritime Partners (GNRT) – 2 (buy)

Consensus recommendations

Eleven analysts gave recommendations on Tsakos Energy Navigation—73% of the analysts are bullish on the stock. Two analysts recommended a “strong buy,” while six analysts recommended a “buy.” Three analysts gave a “hold” rating. None of the analysts recommended a “sell” or “strong sell.”

The consensus 12-month target price for Tsakos Energy Navigation is $5.95. Compared to the current price of $4.53 as of September 19, the target price implies a potential upside of 31.3%.

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