Bank of Nova Scotia Upgraded to Outperform by Credit Suisse (BNS)
Bank of Nova Scotia (NYSE:BNS) was upgraded by research analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a report released on Monday, TheFlyOnTheWall.com reports.
Shares of Bank of Nova Scotia (NYSE:BNS) traded up 0.84% during mid-day trading on Monday, hitting $60.19. The stock had a trading volume of 386,247 shares. Bank of Nova Scotia has a 52-week low of $51.75 and a 52-week high of $60.23. The stock has a 50-day moving average of $56.3 and a 200-day moving average of $56.61. The company has a market cap of $72.427 billion and a price-to-earnings ratio of 11.64.
Bank of Nova Scotia (NYSE:BNS) last released its earnings data on Tuesday, August 27th. The company reported $1.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.32 by $0.02. The company had revenue of $5.60 billion for the quarter. During the same quarter last year, the company posted $1.72 earnings per share. Bank of Nova Scotia’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Bank of Nova Scotia will post $5.16 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BNS. Analysts at TD Securities initiated coverage on shares of Bank of Nova Scotia in a research note to investors on Thursday, October 17th. They set an “action list buy” rating and a C$71.00 price target on the stock. Separately, analysts at National Bank Financial raised their price target on shares of Bank of Nova Scotia from $64.00 to $65.00 in a research note to investors on Friday, September 27th. They now have an “outperform” rating on the stock. Finally, analysts at Scotiabank reiterated a “sector perform” rating on shares of Bank of Nova Scotia in a research note to investors on Thursday, September 26th. They now have a $70.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $66.11.
The Bank of Nova Scotia (NYSE:BNS) is a diversified financial institution.
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