FY2017 Earnings Forecast for Bank of Nova Scotia (BNS) Issued By National Bank Financial
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Research analysts at National Bank Financial boosted their FY2017 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a research note issued to investors on Tuesday. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings of $6.57 per share for the year, up from their prior forecast of $6.53. National Bank Financial has a “Outperform” rating and a $86.00 price target on the stock. National Bank Financial also issued estimates for Bank of Nova Scotia’s Q4 2017 earnings at $1.68 EPS, Q2 2018 earnings at $1.67 EPS and FY2018 earnings at $6.90 EPS.
A number of other brokerages also recently weighed in on BNS. Barclays PLC raised Bank of Nova Scotia from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 23rd. BMO Capital Markets lifted their price target on Bank of Nova Scotia from C$83.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Wednesday. Scotiabank lifted their price objective on Bank of Nova Scotia from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a report on Wednesday, May 31st. Royal Bank Of Canada lifted their price objective on Bank of Nova Scotia from C$86.00 to C$87.00 and gave the stock an “outperform” rating in a report on Wednesday, May 31st. Finally, CIBC lifted their price objective on Bank of Nova Scotia from C$85.00 to C$87.00 in a report on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of C$85.08.
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Bank of Nova Scotia (BNS) opened at 77.69 on Thursday. The firm has a market cap of $93.37 billion and a P/E ratio of 12.12. Bank of Nova Scotia has a 1-year low of $68.27 and a 1-year high of $82.30. The stock’s 50 day moving average is $77.68 and its 200-day moving average is $77.81.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, May 30th. The bank reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.07. Bank of Nova Scotia had a net margin of 31.32% and a return on equity of 14.58%. The company had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.61 billion.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Tuesday, October 3rd will be paid a $0.79 dividend. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.76. This represents a $3.16 annualized dividend and a yield of 4.07%.
In other news, Director Brian J. Porter bought 1,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were bought at an average price of C$77.74 per share, for a total transaction of C$77,740.00.
About Bank of Nova Scotia
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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