$1.62 EPS Expected for The Bank of Nova Scotia (NYSE:BNS) This Quarter

Wall Street brokerages predict that The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) will announce $1.62 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bank of Nova Scotia’s earnings. The highest EPS estimate is $1.64 and the lowest is $1.60. Bank of Nova Scotia reported earnings of $1.50 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Bank of Nova Scotia will report full year earnings of $6.58 per share for the current financial year, with EPS estimates ranging from $6.28 to $6.81. For the next year, analysts anticipate that the firm will post earnings of $6.91 per share, with EPS estimates ranging from $6.60 to $7.24. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Bank of Nova Scotia.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last issued its quarterly earnings results on Tuesday, March 1st. The bank reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.52. The company had revenue of $8.05 billion for 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 business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 EPS.

Several analysts have commented on BNS shares. Desjardins lifted their price target on Bank of Nova Scotia from C$95.00 to C$99.00 in a report on Thursday, March 3rd. StockNews.com assumed coverage on shares of Bank of Nova Scotia in a research note on Thursday, March 31st. They set a “hold” rating for the company. Stifel Nicolaus dropped their price objective on Bank of Nova Scotia from C$107.00 to C$106.00 in a report on Friday, April 8th. BMO Capital Markets upped their price target on Bank of Nova Scotia from C$93.00 to C$95.00 in a research note on Wednesday, March 2nd. Finally, Zacks Investment Research raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Thursday, February 24th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $93.66.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BNS. Bank of Nova Scotia Trust Co. raised its position in shares of Bank of Nova Scotia by 4.3% during the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 695,046 shares of the bank’s stock valued at $42,766,000 after acquiring an additional 28,548 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Bank of Nova Scotia during the third quarter worth $40,502,000. Kestra Advisory Services LLC lifted its position in shares of Bank of Nova Scotia by 1.8% in the 4th quarter. Kestra Advisory Services LLC now owns 18,217 shares of the bank’s stock worth $1,306,000 after buying an additional 330 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Bank of Nova Scotia by 10.9% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,808,307 shares of the bank’s stock valued at $111,169,000 after buying an additional 177,280 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Bank of Nova Scotia by 7.0% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 599,500 shares of the bank’s stock valued at $36,892,000 after buying an additional 39,200 shares during the last quarter. 47.03% of the stock is owned by institutional investors.

NYSE BNS opened at $67.84 on Thursday. The business’s 50-day moving average price is $72.20 and its 200 day moving average price is $69.15. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Bank of Nova Scotia has a twelve month low of $59.05 and a twelve month high of $74.86. The company has a market capitalization of $81.64 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.60 and a beta of 0.92.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 27th. Stockholders of record on Tuesday, April 5th will be paid a dividend of $0.7884 per share. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.78. This represents a $3.15 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Monday, April 4th. Bank of Nova Scotia’s dividend payout ratio is 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.

Featured Stories

Get a free copy of the Zacks research report on Bank of Nova Scotia (BNS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.