
TEN Stock Forecast & Price Target
TEN Analyst Ratings
Bulls say
Tsakos Energy Navigation Ltd has demonstrated a positive financial trajectory, with a revenue backlog increasing to approximately $4.0 billion, up from $3.7 billion at the end of the second quarter. The company reported higher-than-expected net revenues of $161 million, surpassing the projected $156 million, further indicating robust financial performance. Additionally, the recent extensions of charter contracts for its Aframaxes at higher daily rates, combined with favorable financing conditions for new shuttle tanker buildouts secured on long-term charters, position Tsakos well to capitalize on an attractive tanker market outlook in the upcoming quarter.
Bears say
Tsakos Energy Navigation reported a utilization rate of 94.8%, marginally down from the previous quarter's 96.6%, which could signal potential inefficiencies in the fleet's deployment. Additionally, while general and administrative expenses decreased from $13.2 million to $9.2 million, revenues fell short of expectations, coming in at $159 million compared to a modeled $162 million, highlighting revenue generation challenges. The volatility in oil volumes could significantly affect charter rates, indicating that the company's financial performance remains sensitive to market fluctuations.
This aggregate rating is based on analysts' research of Tsakos Energy Navigation Ltd and is not a guaranteed prediction by Public.com or investment advice.
TEN Analyst Forecast & Price Prediction
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