Bank of Nova Scotia (BNS) Expected to Earn Q3 2018 Earnings of $1.38 Per Share

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Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Equities research analysts at Cormark raised their Q3 2018 earnings per share estimates for shares of Bank of Nova Scotia in a research note issued to investors on Wednesday, August 15th. Cormark analyst M. Grauman now expects that the bank will post earnings per share of $1.38 for the quarter, up from their prior estimate of $1.34.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America lowered Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 5th. National Bank Financial lowered Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 8th. Desjardins reissued a “buy” rating on shares of Bank of Nova Scotia in a research report on Friday, June 8th. Finally, Royal Bank of Canada lowered Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a research report on Monday, June 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Bank of Nova Scotia has an average rating of “Hold” and an average price target of $84.33.

Shares of BNS opened at $59.29 on Monday. Bank of Nova Scotia has a 52-week low of $55.85 and a 52-week high of $66.78. The company has a market capitalization of $71.65 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its earnings results on Tuesday, May 29th. The bank reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.04. Bank of Nova Scotia had a return on equity of 14.87% and a net margin of 22.29%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.37 billion.

The company also recently declared a quarterly dividend, which was paid on Friday, July 27th. Investors of record on Tuesday, July 3rd were given a dividend of $0.6366 per share. This represents a $2.55 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Monday, July 2nd. Bank of Nova Scotia’s dividend payout ratio is currently 47.71%.

Hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its position in shares of Bank of Nova Scotia by 1,995.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 19,002 shares of the bank’s stock valued at $152,000 after acquiring an additional 18,095 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of Bank of Nova Scotia during the 2nd quarter valued at approximately $200,000. Private Advisor Group LLC acquired a new stake in shares of Bank of Nova Scotia during the 2nd quarter valued at approximately $230,000. Nwam LLC raised its position in shares of Bank of Nova Scotia by 38.9% during the 2nd quarter. Nwam LLC now owns 5,235 shares of the bank’s stock valued at $300,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Lucia Wealth Services LLC bought a new position in Bank of Nova Scotia during the 2nd quarter worth $334,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

About Bank of Nova Scotia

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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