We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tsakos (TNP) Surges 13.7%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Tsakos Energy shares ended the last trading session 13.7% higher at $9.79. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.3% gain over the past four weeks.
Global oil tanker rates have surged due to the concerns about oil supplies from Russia, which is one of the world's largest producers of the commodity. This has followed the invasion of Ukraine by Russia. The overall optimism surrounding the shipping industry as economic activities gradually gather pace is also aiding the stock. Evidently, shares of Tsakos Energy Navigation Limited surged in excess of 35% year to date.
This oil and gas shipping company is expected to post quarterly loss of $0.61 per share in its upcoming report, which represents a year-over-year change of +68.1%. Revenues are expected to be $99.63 million, up 8.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Tsakos, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TNP going forward to see if this recent jump can turn into more strength down the road.
Tsakos belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, Costamare (CMRE - Free Report) , closed the last trading session 2% higher at $14.45. Over the past month, CMRE has returned 6%.
Costamare's consensus EPS estimate for the upcoming report has changed +2.5% over the past month to $0.88. Compared to the company's year-ago EPS, this represents a change of +225.9%. Costamare currently boasts a Zacks Rank of #2 (Buy).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Tsakos (TNP) Surges 13.7%: Is This an Indication of Further Gains?
Tsakos Energy shares ended the last trading session 13.7% higher at $9.79. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.3% gain over the past four weeks.
Global oil tanker rates have surged due to the concerns about oil supplies from Russia, which is one of the world's largest producers of the commodity. This has followed the invasion of Ukraine by Russia. The overall optimism surrounding the shipping industry as economic activities gradually gather pace is also aiding the stock. Evidently, shares of Tsakos Energy Navigation Limited surged in excess of 35% year to date.
This oil and gas shipping company is expected to post quarterly loss of $0.61 per share in its upcoming report, which represents a year-over-year change of +68.1%. Revenues are expected to be $99.63 million, up 8.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Tsakos, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TNP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tsakos belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, Costamare (CMRE - Free Report) , closed the last trading session 2% higher at $14.45. Over the past month, CMRE has returned 6%.
Costamare's consensus EPS estimate for the upcoming report has changed +2.5% over the past month to $0.88. Compared to the company's year-ago EPS, this represents a change of +225.9%. Costamare currently boasts a Zacks Rank of #2 (Buy).