Bank of Nova Scotia (BNS) Announces Earnings Results
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) announced its quarterly earnings results on Tuesday. The bank reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.39, Briefing.com reports. Bank of Nova Scotia had a return on equity of 14.87% and a net margin of 22.29%. The company had revenue of $7.18 billion during the quarter, compared to the consensus estimate of $7.34 billion. During the same period in the previous year, the company posted $1.66 earnings per share. Bank of Nova Scotia’s revenue for the quarter was up 1.7% on a year-over-year basis.
Shares of BNS stock opened at $59.44 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $73.63 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Bank of Nova Scotia has a 1-year low of $55.85 and a 1-year high of $66.78.
BNS has been the subject of several research analyst reports. Zacks Investment Research downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, June 13th. ValuEngine downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Monday, June 11th. Royal Bank of Canada downgraded Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 11th. Desjardins reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a research note on Friday, June 8th. Finally, National Bank Financial downgraded Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research note on Friday, June 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Bank of Nova Scotia has a consensus rating of “Hold” and an average target price of $84.33.
The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.
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