National Bank Financial Weighs in on Bank of Nova Scotia’s Q1 2018 Earnings (BNS)
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Stock analysts at National Bank Financial lowered their Q1 2018 EPS estimates for shares of Bank of Nova Scotia in a report issued on Tuesday. National Bank Financial analyst G. Dechaine now forecasts that the bank will earn $1.27 per share for the quarter, down from their previous estimate of $1.33. National Bank Financial also issued estimates for Bank of Nova Scotia’s Q2 2018 earnings at $1.28 EPS, Q3 2018 earnings at $1.34 EPS, FY2018 earnings at $5.39 EPS and FY2019 earnings at $5.76 EPS.
Several other research analysts have also weighed in on BNS. BidaskClub lowered shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Canaccord Genuity reaffirmed a “buy” rating and issued a $92.00 price target on shares of Bank of Nova Scotia in a research note on Tuesday. Scotiabank restated a “buy” rating and set a $95.00 target price on shares of Bank of Nova Scotia in a report on Wednesday, November 22nd. Citigroup upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Wednesday, September 20th. Finally, Macquarie began coverage on shares of Bank of Nova Scotia in a report on Tuesday, October 24th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $85.60.
Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its quarterly earnings results on Tuesday, August 29th. The bank reported $1.27 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.38). Bank of Nova Scotia had a return on equity of 14.79% and a net margin of 22.20%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the firm earned $1.54 EPS.
Several hedge funds have recently bought and sold shares of BNS. Fiduciary Trust Co. acquired a new stake in Bank of Nova Scotia during the 2nd quarter valued at approximately $102,000. IFP Advisors Inc grew its position in shares of Bank of Nova Scotia by 46.7% during the 2nd quarter. IFP Advisors Inc now owns 2,077 shares of the bank’s stock worth $125,000 after buying an additional 661 shares during the period. ARP Americas LLC acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth approximately $202,000. Yorktown Management & Research Co Inc acquired a new stake in shares of Bank of Nova Scotia during the 3rd quarter worth approximately $212,000. Finally, Quantum Capital Management acquired a new stake in shares of Bank of Nova Scotia during the 2nd quarter worth approximately $205,000. 47.06% of the stock is owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Tuesday, January 2nd will be issued a $0.617 dividend. The ex-dividend date is Friday, December 29th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 3.83%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 48.91%.
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Bank of Nova Scotia 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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