Bank of Nova Scotia (BNS) Set to Announce Quarterly Earnings on Tuesday

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, November 28th. Analysts expect the company to announce earnings of $1.27 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 29th. The bank reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.45. The business had revenue of $8.09 billion during the quarter, compared to analyst estimates of $8.16 billion. Bank of Nova Scotia had a return on equity of 13.31% and a net margin of 12.25%. Bank of Nova Scotia’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. On average, analysts expect Bank of Nova Scotia to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Bank of Nova Scotia Stock Down 0.2 %

Shares of BNS opened at $44.43 on Tuesday. The firm has a market cap of $53.94 billion, a P/E ratio of 9.33, a P/E/G ratio of 2.05 and a beta of 1.02. Bank of Nova Scotia has a 1 year low of $39.79 and a 1 year high of $55.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50 day simple moving average of $43.99 and a two-hundred day simple moving average of $47.04.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd were paid a dividend of $0.7801 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date was Friday, September 29th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 65.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Bank of Nova Scotia by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 40,996,068 shares of the bank’s stock valued at $2,940,238,000 after buying an additional 1,320,299 shares during the period. Mackenzie Financial Corp raised its holdings in Bank of Nova Scotia by 4.1% during the 4th quarter. Mackenzie Financial Corp now owns 16,557,752 shares of the bank’s stock valued at $809,940,000 after buying an additional 659,492 shares during the period. Norges Bank purchased a new stake in Bank of Nova Scotia during the 4th quarter valued at $588,957,000. JPMorgan Chase & Co. raised its holdings in Bank of Nova Scotia by 2.1% during the 1st quarter. JPMorgan Chase & Co. now owns 5,343,541 shares of the bank’s stock valued at $269,101,000 after buying an additional 108,043 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Bank of Nova Scotia by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 3,993,499 shares of the bank’s stock valued at $202,519,000 after buying an additional 112,215 shares during the period. 43.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BNS. Barclays upped their target price on Bank of Nova Scotia from $63.00 to $65.00 and gave the company an “underweight” rating in a report on Monday, August 21st. Scotiabank decreased their target price on Bank of Nova Scotia from $68.00 to $66.00 and set a “hold” rating for the company in a report on Wednesday, August 30th. Finally, StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.33.

Bank of Nova Scotia Company Profile

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.