Bank of Nova Scotia (NYSE:BNS) Posts Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) issued its earnings results on Tuesday. The bank reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.44, Briefing.com reports. Bank of Nova Scotia had a net margin of 18.32% and a return on equity of 13.53%. The firm had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $7.98 billion. During the same quarter last year, the business earned $1.77 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis.

Shares of BNS stock opened at $56.60 on Wednesday. The stock has a fifty day moving average of $57.33 and a 200 day moving average of $54.49. Bank of Nova Scotia has a 52 week low of $48.34 and a 52 week high of $58.22. The firm has a market capitalization of $69.13 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.85 and a beta of 1.18. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31.

A number of brokerages recently commented on BNS. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $62.00 in a research note on Tuesday, September 24th. Zacks Investment Research lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Credit Suisse Group raised their price target on Bank of Nova Scotia from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. BMO Capital Markets dropped their price target on Bank of Nova Scotia from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Finally, Desjardins raised their price target on Bank of Nova Scotia from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $75.33.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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

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