Cormark Comments on The Bank of Nova Scotia’s FY2025 Earnings (NYSE:BNS)

The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) – Equities research analysts at Cormark decreased their FY2025 EPS estimates for shares of Bank of Nova Scotia in a research note issued on Wednesday, May 29th. Cormark analyst L. Persaud now forecasts that the bank will post earnings per share of $5.12 for the year, down from their prior forecast of $5.19. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.82 per share.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last posted its earnings results on Tuesday, February 27th. The bank reported $1.25 EPS for the quarter, topping the consensus estimate of $1.19 by $0.06. The firm had revenue of $14.13 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Bank of Nova Scotia had a net margin of 10.40% and a return on equity of 11.40%. During the same quarter in the prior year, the firm earned $1.37 EPS.

Other analysts also recently issued research reports about the company. StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday. Barclays initiated coverage on shares of Bank of Nova Scotia in a research note on Wednesday, March 20th. They set an “underweight” rating and a $70.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on shares of Bank of Nova Scotia in a research report on Thursday, February 22nd. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.00.

Check Out Our Latest Stock Analysis on BNS

Bank of Nova Scotia Stock Performance

Shares of NYSE BNS opened at $47.35 on Friday. Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $51.98. The company has a market cap of $58.22 billion, a PE ratio of 10.66, a P/E/G ratio of 1.71 and a beta of 1.06. The stock has a 50 day simple moving average of $48.15 and a 200-day simple moving average of $47.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Bank of Nova Scotia in the 4th quarter valued at about $652,409,000. TD Asset Management Inc boosted its holdings in Bank of Nova Scotia by 23.2% during the fourth quarter. TD Asset Management Inc now owns 19,841,901 shares of the bank’s stock worth $970,577,000 after buying an additional 3,731,541 shares in the last quarter. Sprott Inc. acquired a new position in Bank of Nova Scotia in the third quarter worth approximately $146,907,000. Clearbridge Investments LLC bought a new position in shares of Bank of Nova Scotia in the fourth quarter valued at $114,447,000. Finally, 1832 Asset Management L.P. lifted its position in shares of Bank of Nova Scotia by 16.1% during the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock valued at $881,082,000 after acquiring an additional 2,361,136 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Wednesday, July 3rd will be paid a $0.769 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date is Wednesday, July 3rd. Bank of Nova Scotia’s dividend payout ratio is presently 70.72%.

About Bank of Nova Scotia

(Get Free Report)

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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.

See Also

Earnings History and Estimates for Bank of Nova Scotia (NYSE:BNS)

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