Cormark Comments on The Bank of Nova Scotia’s Q3 2022 Earnings (TSE:BNS)

The Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) – Equities researchers at Cormark issued their Q3 2022 earnings per share estimates for shares of Bank of Nova Scotia in a research report issued on Wednesday, May 25th. Cormark analyst L. Persaud expects that the bank will post earnings per share of $2.10 for the quarter. Cormark also issued estimates for Bank of Nova Scotia’s Q4 2022 earnings at $2.15 EPS, Q1 2023 earnings at $2.25 EPS, Q2 2023 earnings at $2.10 EPS, Q3 2023 earnings at $2.26 EPS and Q4 2023 earnings at $2.32 EPS.

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) last released its quarterly earnings data on Tuesday, March 1st. The bank reported C$2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.07 by C$0.08. The firm had revenue of C$8.05 billion for the quarter, compared to the consensus estimate of C$7.79 billion.

A number of other brokerages have also recently weighed in on BNS. Credit Suisse Group assumed coverage on Bank of Nova Scotia in a research report on Friday, May 20th. They issued a “hold” rating and a C$88.00 price target on the stock. BMO Capital Markets boosted their price objective on Bank of Nova Scotia from C$93.00 to C$95.00 in a research note on Wednesday, March 2nd. CIBC upped their price target on Bank of Nova Scotia from C$86.00 to C$88.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays cut their price target on Bank of Nova Scotia from C$96.00 to C$84.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 11th. Finally, Stifel Nicolaus increased their target price on Bank of Nova Scotia from C$95.00 to C$97.00 in a research note on Thursday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia has a consensus rating of “Hold” and an average price target of C$90.96.

Shares of TSE:BNS opened at C$84.33 on Friday. The business’s fifty day moving average price is C$85.41 and its two-hundred day moving average price is C$87.85. Bank of Nova Scotia has a fifty-two week low of C$75.84 and a fifty-two week high of C$95.00. The stock has a market capitalization of C$101.57 billion and a price-to-earnings ratio of 10.57.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Tuesday, July 5th will be issued a dividend of $1.03 per share. The ex-dividend date is Monday, July 4th. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.89%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 46.37%.

Bank of Nova Scotia Company Profile (Get Rating)

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 in four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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Earnings History and Estimates for Bank of Nova Scotia (TSE:BNS)

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