The Bank of Nova Scotia (NYSE:BNS) Expected to Announce Quarterly Sales of $6.30 Billion

Wall Street brokerages predict that The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) will report $6.30 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Bank of Nova Scotia’s earnings, with the highest sales estimate coming in at $6.41 billion and the lowest estimate coming in at $6.18 billion. Bank of Nova Scotia reported sales of $6.31 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.2%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Bank of Nova Scotia will report full year sales of $25.28 billion for the current financial year, with estimates ranging from $24.84 billion to $25.68 billion. For the next year, analysts anticipate that the business will post sales of $26.98 billion, with estimates ranging from $26.48 billion to $27.44 billion. Zacks’ sales calculations 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:BNSGet Rating) (TSE:BNS) last posted its quarterly earnings data on Wednesday, May 25th. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.65. The company had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.87 billion. Bank of Nova Scotia had a net margin of 25.54% and a return on equity of 15.22%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share.

A number of research firms have commented on BNS. 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. 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. TD Securities lifted their price objective on shares of Bank of Nova Scotia from C$88.00 to C$90.00 in a research note on Thursday. CIBC lowered shares of Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a research note on Monday, April 11th. Finally, Stifel Nicolaus upped their price objective on shares of Bank of Nova Scotia from C$95.00 to C$97.00 in a research note on Thursday. Eight equities 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, the stock presently has an average rating of “Hold” and a consensus target price of $92.61.

A number of institutional investors and hedge funds have recently bought and sold shares of BNS. Vanguard Group Inc. increased its stake in Bank of Nova Scotia by 3.3% in the first quarter. Vanguard Group Inc. now owns 40,996,068 shares of the bank’s stock valued at $2,940,238,000 after purchasing an additional 1,320,299 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Bank of Nova Scotia by 2.0% in the first quarter. 1832 Asset Management L.P. now owns 17,571,892 shares of the bank’s stock valued at $1,243,830,000 after purchasing an additional 352,484 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Bank of Nova Scotia by 6.7% in the first quarter. Toronto Dominion Bank now owns 16,218,985 shares of the bank’s stock valued at $1,166,916,000 after purchasing an additional 1,011,387 shares during the last quarter. Norges Bank purchased a new position in Bank of Nova Scotia in the fourth quarter valued at about $760,634,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Bank of Nova Scotia by 22.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,616,724 shares of the bank’s stock valued at $760,696,000 after purchasing an additional 1,914,499 shares during the last quarter. Institutional investors own 45.01% of the company’s stock.

BNS opened at $66.05 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market cap of $79.11 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.59 and a beta of 0.94. The company’s 50 day moving average is $67.32 and its 200 day moving average is $69.20. Bank of Nova Scotia has a 12-month low of $59.05 and a 12-month high of $74.86.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Tuesday, July 5th will be paid a $0.801 dividend. The ex-dividend date is Friday, July 1st. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.79. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.85%. Bank of Nova Scotia’s payout ratio is 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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