Equities analysts expect Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) to report sales of $5.89 billion for the current quarter, Zacks reports. Two analysts have issued estimates for Bank of Nova Scotia’s earnings, with the highest sales estimate coming in at $5.90 billion and the lowest estimate coming in at $5.88 billion. Bank of Nova Scotia reported sales of $5.45 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.1%. The company is scheduled to announce its next earnings results before the market opens on Tuesday, November 27th.
On average, analysts expect that Bank of Nova Scotia will report full-year sales of $22.31 billion for the current financial year, with estimates ranging from $22.30 billion to $22.32 billion. For the next year, analysts expect that the company will report sales of $24.21 billion, with estimates ranging from $24.15 billion to $24.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Bank of Nova Scotia.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, August 28th. The bank reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.39. Bank of Nova Scotia had a net margin of 21.55% and a return on equity of 14.62%. The business had revenue of $7.18 billion during the quarter, compared to analyst estimates of $7.34 billion. During the same quarter last year, the business earned $1.66 earnings per share. Bank of Nova Scotia’s quarterly revenue was up 1.7% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the stock. Canaccord Genuity lowered shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating and set a $65.00 target price for the company in a report on Wednesday, August 8th. Desjardins restated an “average” rating and issued a $85.00 target price on shares of Bank of Nova Scotia in a report on Thursday, November 8th. Finally, Barclays restated an “average” rating and issued a $85.00 target price on shares of Bank of Nova Scotia in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Bank of Nova Scotia has an average rating of “Hold” and an average target price of $83.80.
BNS stock traded down $0.01 during trading on Thursday, hitting $53.91. 516,219 shares of the company’s stock traded hands, compared to its average volume of 840,136. Bank of Nova Scotia has a 52 week low of $52.63 and a 52 week high of $66.78. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $66.19 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25.
The company also recently announced a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Tuesday, October 2nd were issued a $0.6539 dividend. This represents a $2.62 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Monday, October 1st. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.64. Bank of Nova Scotia’s dividend payout ratio (DPR) is 50.19%.
Several institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new position in Bank of Nova Scotia in the 3rd quarter worth about $650,249,000. Toronto Dominion Bank increased its stake in Bank of Nova Scotia by 37.5% in the 2nd quarter. Toronto Dominion Bank now owns 20,945,499 shares of the bank’s stock worth $1,199,742,000 after buying an additional 5,709,563 shares during the period. Bank of Montreal Can increased its stake in Bank of Nova Scotia by 8.0% in the 3rd quarter. Bank of Montreal Can now owns 50,478,972 shares of the bank’s stock worth $3,010,061,000 after buying an additional 3,741,346 shares during the period. Fiera Capital Corp increased its stake in Bank of Nova Scotia by 51.3% in the 2nd quarter. Fiera Capital Corp now owns 6,500,295 shares of the bank’s stock worth $368,111,000 after buying an additional 2,204,950 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its stake in Bank of Nova Scotia by 20.1% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 6,920,196 shares of the bank’s stock worth $391,607,000 after buying an additional 1,159,645 shares during the period. Hedge funds and other institutional investors own 46.52% of the company’s stock.
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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