Brokerages Expect Bank of Nova Scotia (BNS) Will Announce Earnings of $1.33 Per Share
Equities analysts expect Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) to post earnings of $1.33 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bank of Nova Scotia’s earnings, with estimates ranging from $1.31 to $1.35. Bank of Nova Scotia posted earnings of $1.21 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 9.9%. The firm is scheduled to announce its next earnings report on Tuesday, December 5th.
According to Zacks, analysts expect that Bank of Nova Scotia will report full-year earnings of $5.24 per share for the current fiscal year, with EPS estimates ranging from $5.22 to $5.27. For the next year, analysts anticipate that the business will report earnings of $5.59 per share, with EPS estimates ranging from $5.52 to $5.73. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Bank of Nova Scotia.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, August 29th. The bank reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by ($0.38). Bank of Nova Scotia had a net margin of 30.50% and a return on equity of 14.91%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the business posted $1.54 earnings per share.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Canaccord Genuity set a $87.00 price objective on Bank of Nova Scotia and gave the stock a “buy” rating in a report on Tuesday, August 29th. Scotiabank restated a “buy” rating and issued a $88.00 price objective on shares of Bank of Nova Scotia in a report on Wednesday, August 30th. BidaskClub raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Citigroup Inc. raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 20th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $83.20.
Shares of Bank of Nova Scotia (NYSE:BNS) traded down 0.19% during midday trading on Friday, hitting $64.25. 1,269,213 shares of the stock were exchanged. The stock’s 50-day moving average price is $61.99 and its 200 day moving average price is $59.32. Bank of Nova Scotia has a one year low of $51.21 and a one year high of $64.93. The stock has a market cap of $76.99 billion, a P/E ratio of 12.17 and a beta of 1.27.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Tuesday, October 3rd will be issued a dividend of $0.6294 per share. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $2.52 dividend on an annualized basis and a yield of 3.92%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.56. Bank of Nova Scotia’s dividend payout ratio (DPR) is 46.30%.
Large investors have recently added to or reduced their stakes in the company. Fiduciary Trust Co. acquired a new stake in Bank of Nova Scotia in the 2nd quarter valued at approximately $102,000. IFP Advisors Inc increased its position in shares of Bank of Nova Scotia by 46.7% during the 2nd quarter. IFP Advisors Inc now owns 2,077 shares of the bank’s stock worth $125,000 after purchasing an additional 661 shares during the last quarter. Quantum Capital Management acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $205,000. Cetera Investment Advisers acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $207,000. Finally, CAPROCK Group Inc. acquired a new position in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $211,000. Institutional investors and hedge funds own 45.12% of the company’s stock.
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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