Equities Analysts Offer Predictions for The Bank of Nova Scotia’s FY2023 Earnings (TSE:BNS)

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Stock analysts at Cormark lowered their FY2023 EPS estimates for shares of Bank of Nova Scotia in a report issued on Wednesday, August 30th. Cormark analyst L. Persaud now expects that the bank will post earnings of $7.01 per share for the year, down from their prior estimate of $7.24. Cormark currently has a “Market Perform” rating and a $65.00 target price on the stock. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $7.49 per share. Cormark also issued estimates for Bank of Nova Scotia’s Q4 2023 earnings at $1.73 EPS, Q1 2024 earnings at $1.91 EPS, Q2 2024 earnings at $1.66 EPS, Q3 2024 earnings at $1.83 EPS, Q4 2024 earnings at $1.88 EPS and FY2024 earnings at $7.28 EPS.

Several other research analysts also recently commented on BNS. BMO Capital Markets decreased their target price on shares of Bank of Nova Scotia from C$75.00 to C$73.00 in a research note on Thursday, May 25th. Royal Bank of Canada decreased their target price on shares of Bank of Nova Scotia from C$73.00 to C$72.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Canaccord Genuity Group lifted their target price on shares of Bank of Nova Scotia from C$67.00 to C$69.50 and gave the stock a “hold” rating in a research note on Monday, July 24th. Fundamental Research set a C$77.55 target price on shares of Bank of Nova Scotia and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Finally, Scotiabank lifted their target price on shares of Bank of Nova Scotia from C$67.00 to C$69.50 in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$69.33.

Bank of Nova Scotia Stock Up 2.1 %

Shares of TSE BNS opened at C$65.48 on Friday. Bank of Nova Scotia has a 52 week low of C$61.46 and a 52 week high of C$74.41. The firm’s fifty day moving average is C$64.58 and its 200 day moving average is C$66.46. The company has a market cap of C$78.58 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 13.86 and a beta of 0.93.

Bank of Nova Scotia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd will be given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 6.48%. Bank of Nova Scotia’s dividend payout ratio is presently 62.72%.

About Bank of Nova Scotia

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.