Bank of Nova Scotia (TSE:BNS) Downgraded by Fundamental Research to Hold

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) was downgraded by equities research analysts at Fundamental Research to a “hold” rating in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. They presently have a C$84.50 price target on the bank’s stock. Fundamental Research’s target price would indicate a potential upside of 0.30% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets upped their target price on Bank of Nova Scotia from C$93.00 to C$95.00 in a report on Wednesday, March 2nd. CIBC upped their target price on Bank of Nova Scotia from C$86.00 to C$88.00 and gave the company a “neutral” rating in a report on Thursday, May 26th. Credit Suisse Group started coverage on Bank of Nova Scotia in a report on Friday, May 20th. They set a “hold” rating and a C$88.00 target price for the company. Barclays reduced 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, National Bankshares upped their price target on Bank of Nova Scotia from C$90.00 to C$91.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 26th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$89.81.

BNS stock traded down C$1.01 during midday trading on Wednesday, hitting C$84.25. The company had a trading volume of 652,621 shares, compared to its average volume of 4,137,691. Bank of Nova Scotia has a 52 week low of C$75.84 and a 52 week high of C$95.00. The stock’s 50 day moving average price is C$84.32 and its 200 day moving average price is C$88.03. The stock has a market cap of C$100.80 billion and a price-to-earnings ratio of 10.19.

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) last announced its earnings results on Wednesday, May 25th. The bank reported C$2.18 EPS for the quarter, beating analysts’ consensus estimates of C$1.96 by C$0.22. The business had revenue of C$7.94 billion for the quarter, compared to the consensus estimate of C$7.78 billion. Equities research analysts predict that Bank of Nova Scotia will post 8.7799995 EPS for the current year.

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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