$1.53 Earnings Per Share Expected for The Bank of Nova Scotia (NYSE:BNS) This Quarter

Wall Street analysts expect The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) to announce earnings of $1.53 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bank of Nova Scotia’s earnings. The highest EPS estimate is $1.58 and the lowest is $1.44. Bank of Nova Scotia posted earnings of $1.50 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 2%. The business is expected to announce its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Bank of Nova Scotia will report full year earnings of $6.48 per share for the current fiscal year, with EPS estimates ranging from $6.15 to $6.65. For the next fiscal year, analysts expect that the firm will post earnings of $6.83 per share, with EPS estimates ranging from $6.55 to $6.97. Zacks’ EPS 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 announced its quarterly earnings results 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. Bank of Nova Scotia had a net margin of 25.54% and a return on equity of 15.22%. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.87 billion. During the same quarter last year, the business earned $1.46 EPS. Bank of Nova Scotia’s revenue for the quarter was down .3% on a year-over-year basis.

BNS has been the topic of a number of research reports. Barclays raised their target price on shares of Bank of Nova Scotia from C$97.00 to C$99.00 in a research note on Wednesday, March 2nd. TD Securities downgraded shares of Bank of Nova Scotia from a “buy” rating to a “hold” rating in a research note on Thursday, March 10th. National Bank Financial raised their target price on shares of Bank of Nova Scotia from C$90.00 to C$91.00 in a research note on Wednesday, March 2nd. BMO Capital Markets raised their target price on shares of Bank of Nova Scotia from C$93.00 to C$95.00 in a research note on Wednesday, March 2nd. Finally, Bank of America downgraded shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 17th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $93.66.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Bank of Nova Scotia by 2,750.0% in the 1st quarter. CWM LLC now owns 342 shares of the bank’s stock worth $25,000 after purchasing an additional 330 shares during the last quarter. JFS Wealth Advisors LLC increased its position in shares of Bank of Nova Scotia by 178.0% in the 1st quarter. JFS Wealth Advisors LLC now owns 353 shares of the bank’s stock worth $25,000 after purchasing an additional 226 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of Bank of Nova Scotia in the 1st quarter worth about $28,000. West Bancorporation Inc. acquired a new position in shares of Bank of Nova Scotia in the 4th quarter valued at about $33,000. Finally, Retirement Planning Co of New England Inc. acquired a new position in shares of Bank of Nova Scotia in the 4th quarter valued at about $42,000. 45.01% of the stock is owned by institutional investors.

Shares of BNS stock traded up $1.76 during mid-day trading on Wednesday, reaching $65.35. The company’s stock had a trading volume of 184,221 shares, compared to its average volume of 1,810,964. The company’s 50 day simple moving average is $67.64 and its 200-day simple moving average is $69.23. Bank of Nova Scotia has a 12-month low of $59.05 and a 12-month high of $74.86. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $78.61 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Tuesday, April 5th were given a $0.7884 dividend. The ex-dividend date was Monday, April 4th. This represents a $3.15 annualized dividend and a dividend yield of 4.83%. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.78. Bank of Nova Scotia’s 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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Earnings History and Estimates for Bank of Nova Scotia (NYSE:BNS)

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