Desjardins Lifts Earnings Estimates for Bank of Nova Scotia

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Desjardins upped their FY2024 earnings per share (EPS) estimates for Bank of Nova Scotia in a research report issued on Friday, November 1st. Desjardins analyst D. Young now expects that the bank will earn $6.49 per share for the year, up from their previous forecast of $6.45. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $7.13 per share. Desjardins also issued estimates for Bank of Nova Scotia’s FY2025 earnings at $7.15 EPS and FY2026 earnings at $8.10 EPS.

BNS has been the subject of several other research reports. BMO Capital Markets decreased their target price on Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. Royal Bank of Canada lifted their target price on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. CIBC raised Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from C$78.00 to C$82.00 in a research note on Friday, September 20th. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Finally, Jefferies Financial Group lifted their target price on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Ten investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$69.00.

Bank of Nova Scotia Stock Performance

Shares of TSE BNS opened at C$73.52 on Monday. The firm has a market cap of C$91.16 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.33 and a beta of 0.97. The business’s 50-day simple moving average is C$71.17 and its 200-day simple moving average is C$66.47. Bank of Nova Scotia has a 52 week low of C$56.83 and a 52 week high of C$74.77.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$1.63. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. The firm had revenue of C$8.36 billion during the quarter, compared to the consensus estimate of C$8.50 billion.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were issued a dividend of $1.06 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $4.24 annualized dividend and a dividend yield of 5.77%. Bank of Nova Scotia’s dividend payout ratio is 74.26%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.