Deutche Bank slashed its earnings estimates for Scorpio Tankers, with analyst Amit Mehrotra now predicting that the products carrier owner will report a loss for the fourth quarter.
Mehrotra said he believes New York-listed Scorpio will report red ink of $0.22 per share, down from his prior expectation that the company would log $0.05 in earnings per share.
His new forecast, which he blamed on three months of lacklustre products tanker rates, means he is projecting a deeper quarterly slump than the analyst consensus calling for a loss of $0.19
