Brokers Issue Forecasts for The Bank of Nova Scotia’s FY2022 Earnings (NYSE:BNS)
The Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) – Equities researchers at Desjardins cut their FY2022 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a research note issued to investors on Wednesday, May 25th. Desjardins analyst D. Young now forecasts that the bank will post earnings of $6.51 per share for the year, down from their previous forecast of $6.60. Desjardins also issued estimates for Bank of Nova Scotia’s FY2023 earnings at $6.70 EPS.
Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last released its earnings results on Wednesday, May 25th. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.65. The firm had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $7.87 billion. Bank of Nova Scotia had a return on equity of 15.22% and a net margin of 25.54%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 EPS.
A number of other equities analysts also recently commented on BNS. StockNews.com began coverage on shares of Bank of Nova Scotia in a research note on Thursday, March 31st. They set a “hold” rating for the company. Bank of America downgraded shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 17th. National Bank Financial increased their price objective on shares of Bank of Nova Scotia from C$90.00 to C$91.00 in a research note on Thursday. Canaccord Genuity Group increased their price objective on shares of Bank of Nova Scotia from C$89.00 to C$92.00 in a research note on Thursday. Finally, TD Securities raised their target price on shares of Bank of Nova Scotia from C$88.00 to C$90.00 in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.61.
BNS stock opened at $66.05 on Friday. The stock has a 50-day moving average price of $67.32 and a two-hundred day moving average price of $69.20. The stock has a market cap of $79.11 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Bank of Nova Scotia has a 1 year low of $59.05 and a 1 year high of $74.86.
A number of large investors have recently made changes to their positions in BNS. CWM LLC increased its stake in Bank of Nova Scotia by 2,750.0% in the first quarter. CWM LLC now owns 342 shares of the bank’s stock valued at $25,000 after acquiring an additional 330 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Bank of Nova Scotia by 178.0% during the first quarter. JFS Wealth Advisors LLC now owns 353 shares of the bank’s stock worth $25,000 after buying an additional 226 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of Bank of Nova Scotia during the first quarter worth $28,000. West Bancorporation Inc. bought a new stake in shares of Bank of Nova Scotia during the fourth quarter worth $33,000. Finally, Retirement Planning Co of New England Inc. bought a new stake in shares of Bank of Nova Scotia during the fourth quarter worth $42,000. 45.01% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Tuesday, July 5th will be paid a $0.801 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.85%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, July 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is 50.39%.
Bank of Nova Scotia Company Profile (Get Rating)
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.
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