Q1 EPS Forecast for Bank of Nova Scotia Lowered by Analyst

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Desjardins cut their Q1 2025 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a research note issued to investors on Tuesday, February 4th. Desjardins analyst D. Young now forecasts that the bank will post earnings per share of $1.12 for the quarter, down from their previous estimate of $1.18. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.93 per share.

Several other equities analysts also recently commented on the company. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada lifted their price objective on Bank of Nova Scotia from $65.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bank of Nova Scotia currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at $50.90 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $63.39 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.07. Bank of Nova Scotia has a one year low of $43.67 and a one year high of $57.07. The business has a 50 day simple moving average of $53.22 and a 200 day simple moving average of $51.85.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th were given a dividend of $0.7535 per share. The ex-dividend date was Tuesday, January 7th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.92%. Bank of Nova Scotia’s payout ratio is currently 68.29%.

Institutional Investors Weigh In On Bank of Nova Scotia

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Magnus Financial Group LLC grew its stake in shares of Bank of Nova Scotia by 4.1% during the fourth quarter. Magnus Financial Group LLC now owns 5,100 shares of the bank’s stock worth $274,000 after purchasing an additional 200 shares during the period. Sigma Planning Corp grew its stake in Bank of Nova Scotia by 1.9% in the third quarter. Sigma Planning Corp now owns 11,089 shares of the bank’s stock valued at $604,000 after acquiring an additional 210 shares during the period. Private Advisor Group LLC grew its stake in Bank of Nova Scotia by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 6,248 shares of the bank’s stock valued at $336,000 after acquiring an additional 211 shares during the period. Signaturefd LLC grew its stake in Bank of Nova Scotia by 1.2% in the third quarter. Signaturefd LLC now owns 18,470 shares of the bank’s stock valued at $1,006,000 after acquiring an additional 216 shares during the period. Finally, Addison Advisors LLC grew its stake in Bank of Nova Scotia by 7.3% in the third quarter. Addison Advisors LLC now owns 3,357 shares of the bank’s stock valued at $183,000 after acquiring an additional 227 shares during the period. Institutional investors own 49.13% of the company’s stock.

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.