Tsakos Energy shares rallied 11% in the last trading session to close at $17.84. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.8% gain over the past four weeks.
The uptick is mainly owing to the optimism surrounding the oil tanker market. Owing to the bullishness surrounding the space, Jefferies upgraded the rating on TNP to Buy from Hold. The price target has also been increased.
This oil and gas shipping company is expected to post quarterly earnings of $1.53 per share in its upcoming report, which represents a year-over-year change of +229.7%. Revenues are expected to be $163.51 million, up 84% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Tsakos, the consensus EPS estimate for the quarter has been revised 47.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tsakos is part of the Zacks Transportation - Shipping industry. GasLog Partners LP , another stock in the same industry, closed the last trading session 1.3% higher at $6.18. GLOP has returned 8% in the past month.
GasLog Partners LP's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.27. Compared to the company's year-ago EPS, this represents a change of -20.6%. GasLog Partners LP currently boasts a Zacks Rank of #1 (Strong Buy).
Image: Bigstock
Tsakos (TNP) Moves 11% Higher: Will This Strength Last?
Tsakos Energy shares rallied 11% in the last trading session to close at $17.84. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.8% gain over the past four weeks.
The uptick is mainly owing to the optimism surrounding the oil tanker market. Owing to the bullishness surrounding the space, Jefferies upgraded the rating on TNP to Buy from Hold. The price target has also been increased.
This oil and gas shipping company is expected to post quarterly earnings of $1.53 per share in its upcoming report, which represents a year-over-year change of +229.7%. Revenues are expected to be $163.51 million, up 84% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Tsakos, the consensus EPS estimate for the quarter has been revised 47.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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 #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tsakos is part of the Zacks Transportation - Shipping industry. GasLog Partners LP , another stock in the same industry, closed the last trading session 1.3% higher at $6.18. GLOP has returned 8% in the past month.
GasLog Partners LP's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.27. Compared to the company's year-ago EPS, this represents a change of -20.6%. GasLog Partners LP currently boasts a Zacks Rank of #1 (Strong Buy).