Brokerages forecast that Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) will post sales of $5.89 billion for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Bank of Nova Scotia’s earnings, with the lowest sales estimate coming in at $5.82 billion and the highest estimate coming in at $5.96 billion. Bank of Nova Scotia reported sales of $5.45 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.1%. The firm is scheduled to report its next earnings results on Tuesday, November 27th.

According to Zacks, analysts expect that Bank of Nova Scotia will report full year sales of $22.37 billion for the current financial year, with estimates ranging from $22.27 billion to $22.46 billion. For the next fiscal year, analysts forecast that the company will report sales of $24.31 billion per share, with estimates ranging from $23.88 billion to $24.74 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Bank of Nova Scotia.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings data on Tuesday, August 28th. The bank reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.39. The firm had revenue of $7.18 billion during the quarter, compared to analysts’ expectations of $7.34 billion. Bank of Nova Scotia had a return on equity of 14.87% and a net margin of 22.29%. Bank of Nova Scotia’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share.

BNS has been the subject of several research reports. Zacks Investment Research raised Bank of Nova Scotia from a “sell” rating to a “hold” rating and set a $65.00 price objective for the company in a report on Wednesday, August 8th. Royal Bank of Canada cut Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a report on Monday, June 11th. Bank of America cut Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Tuesday, June 5th. Desjardins reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a report on Friday, June 8th. Finally, National Bank Financial cut Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a report on Friday, June 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.33.

Shares of BNS stock opened at $58.38 on Friday. The firm has a market cap of $74.52 billion, a P/E ratio of 11.14, a PEG ratio of 1.78 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. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.10.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Shareholders of record on Tuesday, October 2nd will be given a dividend of $0.6539 per share. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.64. The ex-dividend date is Monday, October 1st. This represents a $2.62 annualized dividend and a yield of 4.48%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 47.71%.

A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in Bank of Nova Scotia by 1.9% during the second quarter. Raymond James & Associates now owns 51,024 shares of the bank’s stock worth $2,889,000 after buying an additional 951 shares in the last quarter. Creative Planning grew its position in shares of Bank of Nova Scotia by 7.4% in the second quarter. Creative Planning now owns 14,084 shares of the bank’s stock valued at $806,000 after purchasing an additional 971 shares during the period. Coastline Trust Co grew its position in shares of Bank of Nova Scotia by 24.8% in the second quarter. Coastline Trust Co now owns 6,800 shares of the bank’s stock valued at $390,000 after purchasing an additional 1,350 shares during the period. Smithbridge Asset Management Inc. DE grew its position in shares of Bank of Nova Scotia by 6.2% in the second quarter. Smithbridge Asset Management Inc. DE now owns 25,045 shares of the bank’s stock valued at $1,433,000 after purchasing an additional 1,455 shares during the period. Finally, Nwam LLC grew its position in shares of Bank of Nova Scotia by 38.9% in the second quarter. Nwam LLC now owns 5,235 shares of the bank’s stock valued at $300,000 after purchasing an additional 1,465 shares during the period. 46.41% of the stock is owned by institutional investors.

Bank of Nova Scotia Company Profile

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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Earnings History and Estimates for Bank of Nova Scotia (NYSE:BNS)

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