Bank of Nova Scotia (BNS) to Post FY2018 Earnings of $6.86 Per Share, Cormark Forecasts
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Stock analysts at Cormark dropped their FY2018 earnings per share estimates for Bank of Nova Scotia in a research note issued on Wednesday. Cormark analyst M. Grauman now expects that the bank will post earnings of $6.86 per share for the year, down from their prior estimate of $6.99. Cormark also issued estimates for Bank of Nova Scotia’s Q1 2019 earnings at $1.77 EPS, Q2 2019 earnings at $1.79 EPS, Q3 2019 earnings at $1.89 EPS, Q4 2019 earnings at $1.90 EPS and FY2019 earnings at $7.36 EPS.
Other research analysts have also recently issued research reports about the company. Scotiabank reduced their target price on Bank of Nova Scotia from C$89.00 to C$88.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Barclays raised their price objective on Bank of Nova Scotia from C$86.00 to C$88.00 in a research report on Friday, August 11th. CIBC raised their price objective on Bank of Nova Scotia from C$87.00 to C$93.00 in a research report on Monday, November 13th. Royal Bank Of Canada raised their price objective on Bank of Nova Scotia from C$87.00 to C$91.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, National Bank Financial lifted their target price on Bank of Nova Scotia from C$86.00 to C$88.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a buy rating, Bank of Nova Scotia presently has an average rating of “Buy” and an average price target of C$88.38.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its earnings results on Tuesday, November 28th. The bank reported C$1.65 EPS for the quarter, missing analysts’ consensus estimates of C$1.68 by C($0.03). The company had revenue of C$6.81 billion for the quarter, compared to analyst estimates of C$7.05 billion. Bank of Nova Scotia had a net margin of 30.50% and a return on equity of 14.91%. During the same quarter last year, the company posted $1.58 EPS.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.79 per share. The ex-dividend date is Friday, December 29th. This represents a $3.16 annualized dividend and a yield of 3.88%. Bank of Nova Scotia’s payout ratio is 46.73%.
In other news, insider Deborah Alexander sold 7,114 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of C$76.76, for a total transaction of C$546,070.64. Also, insider Kyle Mcnamara sold 3,036 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of C$80.53, for a total transaction of C$244,489.08. In the last three months, insiders have sold 10,364 shares of company stock worth $807,789.
Bank of Nova Scotia 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.
Receive News & Stock Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related stocks with our FREE daily email newsletter.