Brokerages expect Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) to announce sales of $5.64 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bank of Nova Scotia (The)’s earnings, with the lowest sales estimate coming in at $5.63 billion and the highest estimate coming in at $5.65 billion. Bank of Nova Scotia (The) posted sales of $5.15 billion in the same quarter last year, which would indicate a positive year over year growth rate of 9.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, December 5th.

According to Zacks, analysts expect that Bank of Nova Scotia (The) will report full-year sales of $5.64 billion for the current fiscal year, with estimates ranging from $21.90 billion to $21.92 billion. For the next financial year, analysts forecast that the business will report sales of $23.14 billion per share, with estimates ranging from $22.87 billion to $23.42 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Bank of Nova Scotia (The).

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings results on Tuesday, August 29th. The bank reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.38). The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. Bank of Nova Scotia (The) had a net margin of 22.26% and a return on equity of 14.54%. During the same quarter last year, the business earned $1.54 EPS.

A number of brokerages recently commented on BNS. Royal Bank Of Canada boosted their price objective on shares of Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. Canaccord Genuity began coverage on shares of Bank of Nova Scotia (The) in a research report on Tuesday, July 18th. They set a “buy” rating on the stock. BidaskClub downgraded shares of Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Bank of Nova Scotia (The) in a research report on Thursday, May 18th. Finally, Bank of America Corporation boosted their price objective on shares of Bank of Nova Scotia (The) from $81.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Bank of Nova Scotia (The) currently has a consensus rating of “Buy” and a consensus target price of $83.20.

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A number of large investors have recently made changes to their positions in the business. Stanley Laman Group Ltd. grew its stake in Bank of Nova Scotia (The) by 0.4% in the 2nd quarter. Stanley Laman Group Ltd. now owns 9,206 shares of the bank’s stock valued at $554,000 after purchasing an additional 39 shares during the period. New England Research & Management Inc. grew its stake in Bank of Nova Scotia (The) by 1.3% in the 2nd quarter. New England Research & Management Inc. now owns 5,700 shares of the bank’s stock valued at $343,000 after purchasing an additional 75 shares during the period. MML Investors Services LLC grew its stake in Bank of Nova Scotia (The) by 2.2% in the 2nd quarter. MML Investors Services LLC now owns 4,935 shares of the bank’s stock valued at $297,000 after purchasing an additional 107 shares during the period. Shoker Investment Counsel Inc. grew its stake in Bank of Nova Scotia (The) by 1.4% in the 2nd quarter. Shoker Investment Counsel Inc. now owns 9,325 shares of the bank’s stock valued at $560,000 after purchasing an additional 133 shares during the period. Finally, Bahl & Gaynor Inc. grew its stake in Bank of Nova Scotia (The) by 1.8% in the 2nd quarter. Bahl & Gaynor Inc. now owns 8,855 shares of the bank’s stock valued at $493,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 45.27% of the company’s stock.

Bank of Nova Scotia (BNS) opened at 63.21 on Thursday. Bank of Nova Scotia has a one year low of $51.21 and a one year high of $63.50. The firm has a 50 day moving average of $61.87 and a 200-day moving average of $59.18. The firm has a market cap of $75.74 billion, a price-to-earnings ratio of 12.33 and a beta of 1.27.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Tuesday, October 3rd will be paid a $0.6294 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Monday, October 2nd. This is an increase from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. Bank of Nova Scotia (The)’s dividend payout ratio is 46.30%.

Bank of Nova Scotia (The) declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 30th that allows the company to repurchase 24,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Bank of Nova Scotia (The) Company Profile

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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Earnings History and Estimates for Bank of Nova Scotia (The) (NYSE:BNS)

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