The Bank of Nova Scotia (NYSE:BNS) Expected to Announce Quarterly Sales of $6.30 Billion

Wall Street brokerages predict that The Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) will report sales of $6.30 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Bank of Nova Scotia’s earnings. The highest sales estimate is $6.41 billion and the lowest is $6.18 billion. Bank of Nova Scotia posted sales of $6.31 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.2%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Bank of Nova Scotia will report full year sales of $25.28 billion for the current fiscal year, with estimates ranging from $24.84 billion to $25.68 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $26.98 billion, with estimates ranging from $26.48 billion to $27.44 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Bank of Nova Scotia.

Bank of Nova Scotia (NYSE:BNSGet Rating) (TSE:BNS) last issued its earnings results on Wednesday, May 25th. The bank reported $2.18 EPS for the quarter, topping the consensus estimate of $1.53 by $0.65. Bank of Nova Scotia had a return on equity of 15.22% and a net margin of 25.54%. The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.87 billion. During the same period in the previous year, the company posted $1.50 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year.

Several analysts recently issued reports on BNS shares. CIBC downgraded Bank of Nova Scotia from a “sector outperform” rating to a “neutral” rating in a research note on Monday, April 11th. Barclays boosted their price target on Bank of Nova Scotia from C$97.00 to C$99.00 in a research note on Wednesday, March 2nd. Royal Bank of Canada boosted their price target on Bank of Nova Scotia from C$93.00 to C$94.00 in a research note on Thursday. Bank of America downgraded Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 17th. Finally, Credit Suisse Group upped their target price on Bank of Nova Scotia from C$88.00 to C$91.00 in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.61.

A number of institutional investors and hedge funds have recently modified their holdings of BNS. Bank of Nova Scotia grew its position in shares of Bank of Nova Scotia by 0.5% in the 3rd quarter. Bank of Nova Scotia now owns 66,488 shares of the bank’s stock valued at $4,091,000 after buying an additional 328 shares during the last quarter. Vident Investment Advisory LLC boosted its position in shares of Bank of Nova Scotia by 74.4% during the 3rd quarter. Vident Investment Advisory LLC now owns 8,299 shares of the bank’s stock valued at $511,000 after purchasing an additional 3,540 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Bank of Nova Scotia by 12.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,136,839 shares of the bank’s stock valued at $192,691,000 after purchasing an additional 358,362 shares in the last quarter. Credit Suisse AG boosted its position in shares of Bank of Nova Scotia by 10.0% during the 3rd quarter. Credit Suisse AG now owns 2,081,363 shares of the bank’s stock valued at $128,067,000 after purchasing an additional 189,975 shares in the last quarter. Finally, Nicola Wealth Management LTD. boosted its position in shares of Bank of Nova Scotia by 273.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 1,155,500 shares of the bank’s stock valued at $70,703,000 after purchasing an additional 846,500 shares in the last quarter. 45.01% of the stock is owned by institutional investors and hedge funds.

BNS opened at $66.05 on Friday. The business has a fifty day simple moving average of $67.32 and a 200 day simple moving average of $69.20. The company has a market capitalization of $79.11 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94. Bank of Nova Scotia has a 1 year low of $59.05 and a 1 year high of $74.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.07.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Tuesday, July 5th will be issued a $0.801 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Friday, July 1st. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.79. Bank of Nova Scotia’s dividend payout ratio is presently 50.39%.

About Bank of Nova Scotia (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 (NYSE:BNS)

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