Bank of Nova Scotia (BNS) Set to Announce Quarterly Earnings on Tuesday

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) is set to post its quarterly earnings results before the market opens on Tuesday, November 28th. Analysts expect Bank of Nova Scotia to post earnings of $1.27 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 29th. The bank reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.45. The company had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $8.16 billion. Bank of Nova Scotia had a return on equity of 13.31% and a net margin of 12.25%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. On average, analysts expect Bank of Nova Scotia to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Bank of Nova Scotia Stock Performance

BNS opened at $44.43 on Tuesday. The business’s 50 day moving average is $43.99 and its 200-day moving average is $47.04. The stock has a market cap of $53.94 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 2.05 and a beta of 1.02. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $55.91.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Tuesday, October 3rd were issued a dividend of $0.7801 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $3.12 annualized dividend and a yield of 7.02%. Bank of Nova Scotia’s payout ratio is 65.55%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BNS. Belpointe Asset Management LLC grew its position in Bank of Nova Scotia by 1,225.9% during the 1st quarter. Belpointe Asset Management LLC now owns 1,843 shares of the bank’s stock worth $93,000 after purchasing an additional 1,704 shares in the last quarter. Harbour Investments Inc. grew its position in Bank of Nova Scotia by 10.2% during the 4th quarter. Harbour Investments Inc. now owns 2,115 shares of the bank’s stock worth $104,000 after purchasing an additional 195 shares in the last quarter. Power Corp of Canada purchased a new position in Bank of Nova Scotia during the 1st quarter worth approximately $237,000. EHP Funds Inc. purchased a new position in Bank of Nova Scotia during the 1st quarter worth approximately $258,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Bank of Nova Scotia during the 1st quarter worth approximately $271,000. Institutional investors and hedge funds own 43.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Scotiabank dropped their target price on Bank of Nova Scotia from $68.00 to $66.00 and set a “hold” rating on the stock in a report on Wednesday, August 30th. Finally, Barclays boosted their target price on Bank of Nova Scotia from $63.00 to $65.00 and gave the stock an “underweight” rating in a report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.33.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.