Bank of Nova Scotia (TSE:BNS) Receives C$84.82 Consensus Price Target from Analysts

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has received an average recommendation of “Buy” from the twelve brokerages that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$84.82.

A number of equities analysts have recently weighed in on the company. Scotiabank increased their price target on Bank of Nova Scotia from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a report on Wednesday, May 31st. Royal Bank Of Canada increased their price target on Bank of Nova Scotia from C$86.00 to C$87.00 and gave the stock an “outperform” rating in a report on Wednesday, May 31st. Finally, Barclays PLC increased their price target on Bank of Nova Scotia from C$84.00 to C$86.00 and gave the stock an “overweight” rating in a report on Tuesday, May 30th.

Bank of Nova Scotia (TSE BNS) traded down 0.15% on Friday, reaching $78.11. 1,697,223 shares of the company’s stock traded hands. The stock has a market capitalization of $93.88 billion and a price-to-earnings ratio of 12.42. The firm has a 50-day moving average price of $78.38 and a 200-day moving average price of $77.92. Bank of Nova Scotia has a 52 week low of $65.97 and a 52 week high of $82.30.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, May 30th. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.07. The company had revenue of $6.58 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Bank of Nova Scotia had a return on equity of 14.58% and a net margin of 31.32%. On average, analysts predict that Bank of Nova Scotia will post $6.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Tuesday, July 4th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, June 29th.

In other news, Director Brian J. Porter bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were purchased at an average price of C$77.74 per share, with a total value of C$77,740.00.

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Bank of Nova Scotia Company Profile

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

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