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 decreased their FY2022 earnings estimates for Bank of Nova Scotia in a research report issued to clients and investors on Wednesday, May 25th. Desjardins analyst D. Young now expects that the bank will post earnings per share of $6.51 for the year, down from their previous estimate 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 quarterly earnings data on Wednesday, May 25th. The bank reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.65. Bank of Nova Scotia had a net margin of 25.54% and a return on equity of 15.22%. The company had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.87 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year.
Other analysts have also issued reports about the stock. Barclays increased their price target on shares of Bank of Nova Scotia from C$97.00 to C$99.00 in a research report on Wednesday, March 2nd. National Bank Financial upped their price objective on shares of Bank of Nova Scotia from C$90.00 to C$91.00 in a report on Thursday. Credit Suisse Group upped their price objective on shares of Bank of Nova Scotia from C$88.00 to C$91.00 in a report on Thursday. TD Securities upped their price objective on shares of Bank of Nova Scotia from C$88.00 to C$90.00 in a report on Thursday. Finally, Zacks Investment Research upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Thursday, February 24th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.61.
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BNS stock opened at $66.05 on Friday. The firm has a market cap of $79.11 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.59 and a beta of 0.94. The firm has a 50-day simple moving average of $67.32 and a two-hundred day simple moving average of $69.20. Bank of Nova Scotia has a one year low of $59.05 and a one year high of $74.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Tuesday, July 5th will be paid a dividend of $0.801 per share. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Friday, July 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.85%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 50.39%.
Several large investors have recently made changes to their positions in BNS. Bank of Nova Scotia lifted its position in shares of Bank of Nova Scotia by 0.5% during the 3rd quarter. Bank of Nova Scotia now owns 66,488 shares of the bank’s stock valued at $4,091,000 after buying an additional 328 shares in the last quarter. Vident Investment Advisory LLC lifted its position in shares of Bank of Nova Scotia by 74.4% during the 3rd quarter. Vident Investment Advisory LLC now owns 8,299 shares of the bank’s stock valued at $511,000 after buying an additional 3,540 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Bank of Nova Scotia by 12.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,136,839 shares of the bank’s stock valued at $192,691,000 after buying an additional 358,362 shares in the last quarter. Credit Suisse AG lifted its position in shares of Bank of Nova Scotia by 10.0% during the 3rd quarter. Credit Suisse AG now owns 2,081,363 shares of the bank’s stock valued at $128,067,000 after buying an additional 189,975 shares in the last quarter. Finally, Nicola Wealth Management LTD. lifted its position in shares of Bank of Nova Scotia by 273.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 1,155,500 shares of the bank’s stock valued at $70,703,000 after buying an additional 846,500 shares in the last quarter. Hedge funds and other institutional investors own 45.01% of the company’s stock.
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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