Bank of Nova Scotia (BNS) Expected to Earn Q1 2019 Earnings of $1.41 Per Share

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Stock analysts at Cormark boosted their Q1 2019 earnings estimates for Bank of Nova Scotia in a research report issued on Tuesday. Cormark analyst M. Grauman now forecasts that the bank will post earnings of $1.41 per share for the quarter, up from their prior forecast of $1.38. Cormark also issued estimates for Bank of Nova Scotia’s Q2 2019 earnings at $1.42 EPS, Q3 2019 earnings at $1.51 EPS and Q4 2019 earnings at $1.52 EPS.

Several other research analysts have also issued reports on BNS. BidaskClub lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Canaccord Genuity reiterated a “buy” rating and issued a $93.00 price target on shares of Bank of Nova Scotia in a report on Tuesday. Scotiabank reiterated a “buy” rating and issued a $95.00 price target on shares of Bank of Nova Scotia in a report on Wednesday, November 22nd. Citigroup upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a report on Wednesday, September 20th. Finally, Macquarie initiated coverage on Bank of Nova Scotia in a report on Tuesday, October 24th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $85.80.

Shares of Bank of Nova Scotia (BNS) traded up $0.52 during trading hours on Wednesday, reaching $64.43. The company’s stock had a trading volume of 540,172 shares, compared to its average volume of 694,159. The company has a market capitalization of $77,340.00, a price-to-earnings ratio of 12.75, a P/E/G ratio of 1.53 and a beta of 1.26. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.10. Bank of Nova Scotia has a 1-year low of $53.86 and a 1-year high of $66.78.

Several institutional investors have recently modified their holdings of BNS. Arrowstreet Capital Limited Partnership raised its stake in shares of Bank of Nova Scotia by 481.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,001,634 shares of the bank’s stock worth $360,796,000 after purchasing an additional 4,969,752 shares during the last quarter. Public Sector Pension investment Board raised its stake in shares of Bank of Nova Scotia by 13,160.8% in the second quarter. Public Sector Pension investment Board now owns 2,380,451 shares of the bank’s stock worth $142,988,000 after purchasing an additional 2,362,500 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Bank of Nova Scotia by 787.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,312,474 shares of the bank’s stock worth $138,905,000 after purchasing an additional 2,051,874 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Bank of Nova Scotia in the second quarter worth approximately $117,297,000. Finally, Vanguard Group Inc. raised its stake in shares of Bank of Nova Scotia by 4.3% in the second quarter. Vanguard Group Inc. now owns 26,994,461 shares of the bank’s stock worth $1,623,177,000 after purchasing an additional 1,105,865 shares during the last quarter. 47.01% of the stock is owned by hedge funds and other institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Tuesday, January 2nd will be paid a $0.617 dividend. This represents a $2.47 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Friday, December 29th. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 48.52%.

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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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