Q3 2018 Earnings Estimate for Bank of Nova Scotia (BNS) Issued By Desjardins

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Stock analysts at Desjardins lifted their Q3 2018 earnings estimates for Bank of Nova Scotia in a research report issued to clients and investors on Thursday, August 9th. Desjardins analyst D. Young now anticipates that the bank will earn $1.36 per share for the quarter, up from their prior estimate of $1.34. Desjardins currently has a “Buy” rating on the stock. Desjardins also issued estimates for Bank of Nova Scotia’s FY2018 earnings at $5.39 EPS.

BNS has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Wednesday, June 13th. ValuEngine downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Monday, June 11th. Royal Bank of Canada downgraded shares of Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a report on Monday, June 11th. National Bank Financial downgraded shares of Bank of Nova Scotia from an “outperform” rating to a “sector perform” rating in a report on Friday, June 8th. Finally, Bank of America downgraded shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Tuesday, June 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $85.67.

Shares of Bank of Nova Scotia opened at $58.13 on Monday, according to MarketBeat.com. Bank of Nova Scotia has a one year low of $55.85 and a one year high of $66.78. The stock has a market capitalization of $72.74 billion, a PE ratio of 11.09, a PEG ratio of 1.54 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.10.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, May 29th. The bank reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.04. Bank of Nova Scotia had a net margin of 22.29% and a return on equity of 14.87%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.37 billion.

Several hedge funds have recently made changes to their positions in BNS. Toronto Dominion Bank boosted its holdings in shares of Bank of Nova Scotia by 37.5% during the 2nd quarter. Toronto Dominion Bank now owns 20,945,499 shares of the bank’s stock worth $1,199,742,000 after buying an additional 5,709,563 shares during the period. Fiera Capital Corp boosted its holdings in shares of Bank of Nova Scotia by 51.3% during the 2nd quarter. Fiera Capital Corp now owns 6,500,295 shares of the bank’s stock worth $368,111,000 after buying an additional 2,204,950 shares during the period. Addenda Capital Inc. boosted its holdings in shares of Bank of Nova Scotia by 96.5% during the 2nd quarter. Addenda Capital Inc. now owns 2,867,998 shares of the bank’s stock worth $170,420,000 after buying an additional 1,408,794 shares during the period. OMERS ADMINISTRATION Corp boosted its holdings in shares of Bank of Nova Scotia by 20.1% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 6,920,196 shares of the bank’s stock worth $391,607,000 after buying an additional 1,159,645 shares during the period. Finally, Sentry Investments Corp. boosted its holdings in Bank of Nova Scotia by 177.1% in the 1st quarter. Sentry Investments Corp. now owns 1,411,402 shares of the bank’s stock valued at $112,009,000 after purchasing an additional 901,989 shares during the period. 45.11% of the stock is owned by institutional investors and hedge funds.

The business also recently announced a quarterly dividend, which was paid on Friday, July 27th. Investors of record on Tuesday, July 3rd were issued a dividend of $0.6366 per share. This represents a $2.55 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Monday, July 2nd. Bank of Nova Scotia’s payout ratio is 47.71%.

About Bank of Nova Scotia

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 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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