Bank of Nova Scotia (NYSE:BNS) Announces Earnings Results, Beats Estimates By $0.49 EPS

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) posted its earnings results on Tuesday. The bank reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.49, Briefing.com reports. Bank of Nova Scotia had a net margin of 18.06% and a return on equity of 13.77%. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the business posted $1.75 EPS.

Shares of Bank of Nova Scotia stock traded down $1.31 during trading on Thursday, hitting $53.11. 653,118 shares of the company’s stock traded hands, compared to its average volume of 697,016. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s fifty day moving average price is $55.59 and its 200 day moving average price is $55.73. Bank of Nova Scotia has a twelve month low of $50.36 and a twelve month high of $58.22. The company has a market cap of $66.02 billion, a PE ratio of 10.37, a PEG ratio of 1.71 and a beta of 1.08.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 7th will be given a $0.6772 dividend. The ex-dividend date of this dividend is Monday, April 6th. This represents a $2.71 annualized dividend and a yield of 5.10%. Bank of Nova Scotia’s dividend payout ratio is 51.58%.

Several analysts have issued reports on the stock. Credit Suisse Group lowered shares of Bank of Nova Scotia from an “outperform” rating to a “neutral” rating and set a $76.00 price target on the stock. in a research report on Friday, December 13th. Canaccord Genuity restated a “hold” rating and issued a $77.00 price target on shares of Bank of Nova Scotia in a research report on Monday, November 25th. ValuEngine upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Zacks Investment Research upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Monday, January 27th. Finally, Barclays restated a “buy” rating and issued a $82.00 price target on shares of Bank of Nova Scotia in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus target price of $74.78.

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 for Bank of Nova Scotia (NYSE:BNS)

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