Brokers Set Expectations for Bank of Nova Scotia’s Q2 2019 Earnings (BNS)

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Equities researchers at National Bank Financial boosted their Q2 2019 earnings estimates for shares of Bank of Nova Scotia in a note issued to investors on Monday, February 18th. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings per share of $1.35 for the quarter, up from their previous forecast of $1.34.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, November 27th. The bank reported $1.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.35. Bank of Nova Scotia had a return on equity of 14.31% and a net margin of 21.04%. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. Bank of Nova Scotia’s revenue was up 9.3% on a year-over-year basis.

Other research analysts also recently issued research reports about the company. Canaccord Genuity reissued a “hold” rating on shares of Bank of Nova Scotia in a report on Thursday, November 22nd. BMO Capital Markets reissued a “buy” rating on shares of Bank of Nova Scotia in a report on Wednesday, November 28th. TD Securities reissued a “buy” rating on shares of Bank of Nova Scotia in a report on Monday, December 10th. Zacks Investment Research downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Friday, November 9th. Finally, Desjardins reissued an “average” rating and issued a $85.00 target price on shares of Bank of Nova Scotia in a report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.50.

BNS stock opened at $57.10 on Thursday. Bank of Nova Scotia has a fifty-two week low of $48.34 and a fifty-two week high of $63.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $70.30 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.56 and a beta of 1.19.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Merit Financial Group LLC increased its position in Bank of Nova Scotia by 4.1% in the fourth quarter. Merit Financial Group LLC now owns 5,838 shares of the bank’s stock worth $291,000 after buying an additional 228 shares in the last quarter. Cornerstone Advisors Inc. increased its position in Bank of Nova Scotia by 14.5% in the fourth quarter. Cornerstone Advisors Inc. now owns 2,114 shares of the bank’s stock worth $105,000 after buying an additional 268 shares in the last quarter. Nwam LLC increased its position in Bank of Nova Scotia by 5.5% in the fourth quarter. Nwam LLC now owns 5,355 shares of the bank’s stock worth $267,000 after buying an additional 280 shares in the last quarter. Creative Planning increased its position in Bank of Nova Scotia by 2.3% in the fourth quarter. Creative Planning now owns 13,224 shares of the bank’s stock worth $659,000 after buying an additional 303 shares in the last quarter. Finally, Bogart Wealth LLC increased its position in Bank of Nova Scotia by 26.8% in the fourth quarter. Bogart Wealth LLC now owns 1,655 shares of the bank’s stock worth $82,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 47.54% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 29th. Shareholders of record on Wednesday, January 2nd were given a $0.646 dividend. This represents a $2.58 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Monday, December 31st. Bank of Nova Scotia’s payout ratio is 45.77%.

About Bank of Nova Scotia

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

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