Bank of Nova Scotia to Post Q1 2019 Earnings of $1.78 Per Share, Cormark Forecasts (BNS)
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Investment analysts at Cormark increased their Q1 2019 EPS estimates for shares of Bank of Nova Scotia in a research note issued on Tuesday. Cormark analyst M. Grauman now anticipates that the bank will post earnings per share of $1.78 for the quarter, up from their previous forecast of $1.77. Cormark also issued estimates for Bank of Nova Scotia’s Q2 2019 earnings at $1.80 EPS, Q3 2019 earnings at $1.91 EPS and Q4 2019 earnings at $1.92 EPS.
A number of other equities analysts have also weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a C$86.00 target price on shares of Bank of Nova Scotia in a research report on Wednesday. Royal Bank Of Canada upped their price target on Bank of Nova Scotia from C$87.00 to C$91.00 and gave the stock an “outperform” rating in a report on Wednesday, November 29th. National Bank Financial upped their price target on Bank of Nova Scotia from C$86.00 to C$88.00 and gave the stock an “outperform” rating in a report on Wednesday, November 29th. Scotiabank decreased their price target on Bank of Nova Scotia from C$95.00 to C$94.00 and set an “outperform” rating for the company in a report on Wednesday, November 29th. Finally, Citigroup upped their price target on Bank of Nova Scotia from C$90.00 to C$93.00 in a report on Friday, November 17th. Eight equities research analysts have rated the stock with a buy rating, Bank of Nova Scotia presently has a consensus rating of “Buy” and a consensus target price of C$88.46.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, November 28th. The bank reported C$1.65 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.68 by C($0.03). Bank of Nova Scotia had a return on equity of 14.91% and a net margin of 30.50%. The firm had revenue of C$6.81 billion for the quarter, compared to analyst estimates of C$7.05 billion. During the same period in the previous year, the company earned $1.58 earnings per share.
In related news, insider Kyle Mcnamara sold 3,036 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of C$80.53, for a total transaction of C$244,489.08. Also, insider Deborah Alexander sold 7,114 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of C$76.76, for a total value of C$546,070.64. Insiders have sold a total of 10,364 shares of company stock valued at $807,789 in the last quarter.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $3.16 annualized dividend and a dividend yield of 3.86%. Bank of Nova Scotia’s payout ratio is 47.00%.
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About Bank of Nova Scotia
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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