Tsakos Energy Navigation (TNP) will release its 4Q17 results on March 12, 2018. Among its peers, it’s one of the last companies to release its 4Q17 earnings.
Recap of 3Q17
- Tsakos Energy Navigation reported EBITDA (earnings before interest, tax, depreciation, and amortization) of $163 million and net income of $17.7 million for the first nine months of 2017.
- The average time charter rate per vessel for the first nine months of 2017 was $19,141.
- It had a fleet utilization of 96.4%.
- Its total contracted revenue was $1.3 billion, excluding profit sharing.
- It had cash liquidity of $226 million as of September 30, 2017.
Tsakos Energy Navigation stock reached a 52-week low of $3.12 on February 9, 2018. Since the beginning of the year, the stock has fallen 12.5% as of March 6, 2018. The following are the YTD (year-to-date) stock returns of Tsakos Energy Navigation’s peers:
- Nordic American Tankers (NAT): fell 8.9%
- Teekay Tankers (TNK): fell 15%
- Euronav (EURN): fell 6.4%
- DHT Holdings (DHT): rose 3.3%
- Navios Maritime Midstream Partners (NAP): rose 0.74%
- Gener8 Maritime Partners (GNRT): fell 9.4%
Shipping companies account for 19.7% of the Guggenheim Shipping ETF (SEA). SEA has fallen 6% YTD. If you’re interested in broad exposure to the industrials sector, you can invest in the SPDR Dow Jones Industrial Average ETF (DIA).
In this series, we’ll take a look at what analysts expect from Tsakos Energy Navigation’s 4Q17 results. We’ll look at its 4Q17 revenue and EBITDA estimates, as well as analysts’ recommendations.