Bank of Nova Scotia (The) (NYSE:BNS) Receives $86.00 Consensus PT from Brokerages

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) has been given an average recommendation of “Hold” by the six research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $86.00.

A number of research analysts have recently issued reports on BNS shares. Raymond James Financial started coverage on Bank of Nova Scotia in a research note on Tuesday. They set an “outperform” rating on the stock. Wall Street Zen raised Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their price target on Bank of Nova Scotia from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 27th.

Bank of Nova Scotia Trading Up 1.9%

Shares of BNS opened at $67.84 on Friday. Bank of Nova Scotia has a fifty-two week low of $44.09 and a fifty-two week high of $68.10. The firm has a market cap of $83.87 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.49 and a beta of 1.17. The firm has a 50 day moving average price of $65.30 and a 200-day moving average price of $59.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its earnings results on Tuesday, August 26th. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. The company had revenue of $6.85 billion for the quarter, compared to analyst estimates of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. As a group, equities research analysts forecast that Bank of Nova Scotia will post 4.91 earnings per share for the current year.

Institutional Investors Weigh In On Bank of Nova Scotia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNS. Mondrian Investment Partners LTD purchased a new stake in Bank of Nova Scotia during the 3rd quarter valued at $30,000. Cypress Capital Management LLC WY bought a new position in shares of Bank of Nova Scotia during the second quarter valued at about $33,000. Quarry LP bought a new position in shares of Bank of Nova Scotia during the third quarter valued at about $35,000. Virtus Advisers LLC purchased a new stake in shares of Bank of Nova Scotia during the third quarter worth about $39,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Bank of Nova Scotia in the third quarter worth about $45,000. 49.13% of the stock is currently owned by institutional investors.

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