The Bank of Nova Scotia Upgraded by National Bank Financial to Outperform (BNS)
The Bank of Nova Scotia (NYSE:BNS) was upgraded by research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report released on Thursday, Stock Ratings Network reports.
Shares of The Bank of Nova Scotia (NYSE:BNS) traded up 0.63% on Thursday, hitting $61.89. The stock had a trading volume of 264,298 shares. The Bank of Nova Scotia has a 52-week low of $52.05 and a 52-week high of $63.50. The stock’s 50-day moving average is $59.6 and its 200-day moving average is $59.2. The company has a market cap of $75.188 billion and a price-to-earnings ratio of 12.82.
The Bank of Nova Scotia (NYSE:BNS) last released its earnings data on Tuesday, March 4th. The company reported $1.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.38 by $0.04. The company had revenue of $5.73 billion for the quarter. During the same quarter last year, the company posted $1.27 earnings per share. The Bank of Nova Scotia’s revenue was up 8.9% compared to the same quarter last year. Analysts expect that The Bank of Nova Scotia will post $5.46 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of The Bank of Nova Scotia in a research note on Thursday, May 1st. They set a “buy” rating on the stock. Separately, analysts at CIBC cut their price target on shares of The Bank of Nova Scotia from C$71.00 to C$70.00 in a research note on Wednesday, March 5th. They now have a “sector perform” rating on the stock. Finally, analysts at RBC Capital cut their price target on shares of The Bank of Nova Scotia from C$73.00 to C$70.00 in a research note on Wednesday, March 5th. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $68.13.
The Bank of Nova Scotia (NYSE:BNS) is a diversified financial institution.
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