Bank of Nova Scotia (The) (BNS) Set to Announce Quarterly Earnings on Tuesday
Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) is scheduled to be announcing its earnings results before the market opens on Tuesday, August 29th. Analysts expect the company to announce earnings of $1.22 per share for the quarter.
Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, May 30th. The bank reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.08. Bank of Nova Scotia (The) had a net margin of 22.17% and a return on equity of 14.45%. The firm had revenue of $6.58 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same period in the previous year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was down .2% on a year-over-year basis. On average, analysts expect Bank of Nova Scotia (The) to post $5.10 EPS for the current fiscal year and $5.45 EPS for the next fiscal year.
Bank of Nova Scotia (NYSE:BNS) opened at 61.38 on Tuesday. The stock has a market capitalization of $73.77 billion, a PE ratio of 12.39 and a beta of 1.26. The stock’s 50 day moving average is $61.54 and its 200 day moving average is $59.10. Bank of Nova Scotia has a 12-month low of $51.21 and a 12-month high of $63.07.
Bank of Nova Scotia (The) announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 30th that allows the company to buyback 24,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Tuesday, July 4th were paid a $0.5635 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, June 29th. Bank of Nova Scotia (The)’s dividend payout ratio (DPR) is presently 46.97%.
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Several brokerages have commented on BNS. Royal Bank Of Canada lifted their price objective on shares of Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. Zacks Investment Research cut shares of Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Canaccord Genuity began coverage on shares of Bank of Nova Scotia (The) in a research note on Tuesday, July 18th. They set a “buy” rating for the company. BidaskClub cut shares of Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Bank of Nova Scotia (The) in a research note on Thursday, May 18th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $74.67.
Bank of Nova Scotia (The) Company Profile
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
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