$1.62 EPS expected for Bank of Nova Scotia (NYSE:BNS) this quarter
Wall Street brokerages expect Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) to report earnings of $1.62 per share for the current fiscal quarter, reports Zacks Investment Research. Two analysts provided earnings estimates for the Bank of Nova Scotia. The highest EPS estimate is $1.64 and the lowest is $1.60. The Bank of Nova Scotia reported earnings of $1.50 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The company is expected to announce its next quarterly earnings report on Monday, January 1.
Analysts expect Bank of Nova Scotia to report annual earnings of $6.58 per share for the current year, with EPS estimates ranging from $6.28 to 6.81, according to Zacks. $. For next year, analysts expect the company to post earnings of $6.91 per share, with EPS estimates ranging from $6.60 to $7.24. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that provide coverage for the Bank of Nova Scotia.
The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last released its quarterly results on Tuesday, March 1. The bank reported earnings per share of $2.15 for the quarter, beating analysts’ consensus estimate of $1.63 by $0.52. The company posted revenue of $8.05 billion for the quarter, versus analyst estimates of $7.87 billion. The Bank of Nova Scotia had a return on equity of 15.22% and a net margin of 25.54%. The company’s revenue for the quarter was down 0.3% from the same quarter last year. In the same quarter a year earlier, the company posted EPS of $1.46.
Several analysts have commented on BNS shares. Desjardins raised its price target on Bank of Nova Scotia from C$95.00 to C$99.00 in a Thursday, March 3 report. StockNews.com took over coverage of Bank of Nova Scotia stocks in a Thursday, March 31 research note. They set a “holding” rating for the company. Stifel Nicolaus lowered his price target on the Bank of Nova Scotia from C$107.00 to C$106.00 in a Friday, April 8 report. BMO Capital Markets raised its price target on Bank of Nova Scotia from C$93.00 to C$95.00 in a Wednesday, March 2 research note. Finally, Zacks Investment Research upgraded Bank of Nova Scotia from a “sell” to a “hold” rating in a Thursday, Feb. 24 research note. Seven research analysts gave the stock a hold rating and seven gave the stock a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $93.66.
Several institutional investors and hedge funds have recently increased or reduced their stake in BNS. The Bank of Nova Scotia Trust Co. increased its position in Bank of Nova Scotia shares by 4.3% during the third quarter. Bank of Nova Scotia Trust Co. now owns 695,046 shares of the bank valued at $42,766,000 after acquiring 28,548 additional shares last quarter. Quadrature Capital Ltd acquired a new stake in shares of Bank of Nova Scotia during the third quarter at a value of $40,502,000. Kestra Advisory Services LLC increased its position in Bank of Nova Scotia shares by 1.8% in the fourth quarter. Kestra Advisory Services LLC now owns 18,217 shares of the bank worth $1,306,000 after buying 330 additional shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its holdings of Bank of Nova Scotia shares by 10.9% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,808,307 shares of the bank valued at $111,169,000 after purchasing an additional 177,280 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its position in Bank of Nova Scotia shares by 7.0% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 599,500 shares of the bank valued at $36,892,000 after purchasing an additional 39,200 shares in the last quarter. 47.03% of the shares are held by institutional investors.
NYSE BNS opened at $67.84 on Thursday. The company’s 50-day moving average price is $72.20 and its 200-day moving average price is $69.15. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt ratio of 0.44. The Bank of Nova Scotia has a 12-month low of $59.05 and a 12-month high of $74.86. The company has a market capitalization of $81.64 billion, a PE ratio of 10.68, a growth price-earnings ratio of 1.60 and a beta of 0.92.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 27. Shareholders of record on Tuesday, April 5 will receive a dividend of $0.7884 per share. This is a boost from the Bank of Nova Scotia’s previous quarterly dividend of $0.78. This represents an annualized dividend of $3.15 and a dividend yield of 4.65%. The ex-date of this dividend is Monday, April 4. The Bank of Nova Scotia’s dividend payout ratio is 50.39%.
About The Bank of Nova Scotia (Get a rating)
The Bank of Nova Scotia offers a variety of banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, as well as internationally. It operates through four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.
Get a Free Copy of Zacks’ Research Report on Bank of Nova Scotia (BNS)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
Get news and quotes for Bank of Nova Scotia Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst notes for Bank of Nova Scotia and related companies with MarketBeat.com’s FREE daily email newsletter.