Q1 2018 Earnings Estimate for Bank of Nova Scotia (BNS) Issued By Desjardins

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Research analysts at Desjardins reduced their Q1 2018 earnings per share estimates for shares of Bank of Nova Scotia in a report released on Monday. Desjardins analyst D. Young now expects that the bank will earn $1.30 per share for the quarter, down from their previous forecast of $1.33. Desjardins also issued estimates for Bank of Nova Scotia’s Q2 2018 earnings at $1.30 EPS, Q3 2018 earnings at $1.37 EPS and Q4 2018 earnings at $1.37 EPS.

Several other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Macquarie initiated coverage on Bank of Nova Scotia in a report on Tuesday, October 24th. They set an “outperform” rating on the stock. Scotiabank reiterated a “buy” rating and set a $95.00 price objective on shares of Bank of Nova Scotia in a report on Wednesday, November 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $93.00 price objective on shares of Bank of Nova Scotia in a report on Tuesday, December 5th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Bank of Nova Scotia presently has an average rating of “Buy” and a consensus target price of $86.00.

Bank of Nova Scotia (NYSE:BNS) opened at $61.09 on Tuesday. Bank of Nova Scotia has a 1-year low of $53.86 and a 1-year high of $66.78. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $72,901.32, a PE ratio of 12.13, a PEG ratio of 1.38 and a beta of 1.26.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings data on Tuesday, November 28th. The bank reported $1.32 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.32. Bank of Nova Scotia had a return on equity of 14.62% and a net margin of 22.20%. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.64 billion.

The company also recently announced a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Tuesday, January 2nd were given a $0.617 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Friday, December 29th. Bank of Nova Scotia’s dividend payout ratio is presently 51.51%.

Institutional investors have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. raised its position in Bank of Nova Scotia by 20.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 9,413 shares of the bank’s stock valued at $604,000 after buying an additional 1,600 shares during the last quarter. Callahan Advisors LLC raised its position in Bank of Nova Scotia by 6.5% in the 4th quarter. Callahan Advisors LLC now owns 13,371 shares of the bank’s stock valued at $863,000 after buying an additional 811 shares during the last quarter. Andra AP fonden raised its position in Bank of Nova Scotia by 18.1% in the 3rd quarter. Andra AP fonden now owns 127,800 shares of the bank’s stock valued at $10,250,000 after buying an additional 19,600 shares during the last quarter. Jarislowsky Fraser Ltd raised its position in Bank of Nova Scotia by 1.0% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 16,829,361 shares of the bank’s stock valued at $1,079,211,000 after buying an additional 173,233 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Bank of Nova Scotia by 3.7% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 254,750 shares of the bank’s stock valued at $16,385,000 after buying an additional 9,190 shares during the last quarter. 46.29% of the stock is currently owned by institutional investors and hedge funds.

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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.

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

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