Equities analysts predict that The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) will report earnings per share (EPS) of $1.62 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bank of Nova Scotia’s earnings. The lowest EPS estimate is $1.60 and the highest is $1.64. Bank of Nova Scotia reported earnings per share of $1.50 during the same quarter last year, which indicates a positive year over year growth rate of 8%. The company is scheduled to announce its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Bank of Nova Scotia will report full-year earnings of $6.64 per share for the current financial year, with EPS estimates ranging from $6.28 to $6.81. For the next fiscal year, analysts anticipate that the firm will post earnings of $6.97 per share, with EPS estimates ranging from $6.72 to $7.24. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Bank of Nova Scotia.
Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last issued its quarterly earnings results on Tuesday, March 1st. The bank reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.52. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.87 billion. Bank of Nova Scotia had a return on equity of 15.22% and a net margin of 25.54%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS.
A number of brokerages have issued reports on BNS. BMO Capital Markets increased their price target on Bank of Nova Scotia from C$93.00 to C$95.00 in a research note on Wednesday, March 2nd. TD Securities lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Thursday, March 10th. Desjardins raised their price objective on Bank of Nova Scotia from C$95.00 to C$99.00 in a research note on Thursday, March 3rd. Zacks Investment Research raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Thursday, February 24th. Finally, CIBC lowered Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a research note on Monday, April 11th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $93.66.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its holdings in shares of Bank of Nova Scotia by 20.9% during the fourth quarter. Toronto Dominion Bank now owns 15,207,598 shares of the bank’s stock worth $1,079,460,000 after acquiring an additional 2,624,538 shares in the last quarter. Norges Bank purchased a new stake in shares of Bank of Nova Scotia during the fourth quarter worth $760,634,000. CIBC Asset Management Inc raised its holdings in shares of Bank of Nova Scotia by 6.9% during the first quarter. CIBC Asset Management Inc now owns 9,593,755 shares of the bank’s stock worth $688,367,000 after acquiring an additional 615,590 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Bank of Nova Scotia by 18.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,702,225 shares of the bank’s stock worth $616,531,000 after acquiring an additional 1,376,615 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Bank of Nova Scotia by 1.1% during the fourth quarter. Legal & General Group Plc now owns 7,078,454 shares of the bank’s stock valued at $501,832,000 after buying an additional 75,731 shares in the last quarter. Institutional investors own 45.01% of the company’s stock.
Shares of NYSE BNS opened at $63.72 on Wednesday. The stock has a fifty day moving average price of $69.91 and a two-hundred day moving average price of $69.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $76.65 billion, a P/E ratio of 10.03, a PEG ratio of 1.51 and a beta of 0.94. Bank of Nova Scotia has a 1 year low of $59.05 and a 1 year high of $74.86.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Tuesday, April 5th were issued a $0.7884 dividend. The ex-dividend date was Monday, April 4th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.95%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.78. Bank of Nova Scotia’s dividend payout ratio is presently 50.39%.
About Bank of Nova Scotia (Get Rating)
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.
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