The Bank of Nova Scotia (NYSE:BNS) Expected to Post Q2 2022 Earnings of $1.58 Per Share

The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) – Analysts at Desjardins dropped their Q2 2022 EPS estimates for shares of Bank of Nova Scotia in a report released on Monday, May 9th. Desjardins analyst D. Young now expects that the bank will post earnings of $1.58 per share for the quarter, down from their prior estimate of $1.64.

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last released its quarterly earnings data on Tuesday, March 1st. The bank reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.52. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.87 billion. Bank of Nova Scotia had a net margin of 25.54% and a return on equity of 15.22%. Bank of Nova Scotia’s revenue was down .3% compared to the same quarter last year. During the same period last year, the business earned $1.46 EPS.

A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Thursday, February 24th. Stifel Nicolaus lowered their target price on shares of Bank of Nova Scotia from C$107.00 to C$106.00 in a report on Friday, April 8th. TD Securities cut shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research report on Thursday, March 10th. BMO Capital Markets boosted their price target on shares of Bank of Nova Scotia from C$93.00 to C$95.00 in a research report on Wednesday, March 2nd. Finally, CIBC cut shares of Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a research report on Monday, April 11th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $93.66.

Shares of BNS stock opened at $62.14 on Wednesday. The company has a 50 day moving average price of $69.50 and a 200-day moving average price of $69.48. Bank of Nova Scotia has a 52 week low of $59.05 and a 52 week high of $74.86. The firm has a market capitalization of $74.75 billion, a PE ratio of 9.79, a P/E/G ratio of 1.47 and a beta of 0.94. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Bank of Nova Scotia in the third quarter valued at approximately $243,000. Raymond James & Associates grew its holdings in Bank of Nova Scotia by 1.5% during the third quarter. Raymond James & Associates now owns 35,355 shares of the bank’s stock worth $2,173,000 after acquiring an additional 520 shares during the period. Advisor Group Holdings Inc. boosted its position in Bank of Nova Scotia by 7.1% during the third quarter. Advisor Group Holdings Inc. now owns 18,286 shares of the bank’s stock worth $1,125,000 after purchasing an additional 1,207 shares in the last quarter. Ieq Capital LLC boosted its position in Bank of Nova Scotia by 8.3% during the third quarter. Ieq Capital LLC now owns 10,423 shares of the bank’s stock worth $642,000 after purchasing an additional 796 shares in the last quarter. Finally, Boston Private Wealth LLC boosted its position in Bank of Nova Scotia by 24.2% during the third quarter. Boston Private Wealth LLC now owns 6,833 shares of the bank’s stock worth $421,000 after purchasing an additional 1,331 shares in the last quarter. Hedge funds and other institutional investors own 45.01% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Tuesday, April 5th were paid a $0.7884 dividend. This represents a $3.15 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Monday, April 4th. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.78. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 50.39%.

Bank of Nova Scotia Company Profile (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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