FY2022 EPS Estimates for The Bank of Nova Scotia (TSE:BNS) Cut by Cormark

The Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) – Cormark cut their FY2022 earnings estimates for shares of Bank of Nova Scotia in a research report issued on Tuesday, November 22nd. Cormark analyst L. Persaud now expects that the bank will post earnings per share of $8.43 for the year, down from their previous forecast of $8.51. Cormark currently has a “Market Perform” rating on the stock. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $8.38 per share. Cormark also issued estimates for Bank of Nova Scotia’s Q4 2022 earnings at $2.00 EPS, FY2023 earnings at $8.47 EPS and FY2024 earnings at $8.93 EPS.

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) last issued its quarterly earnings results on Tuesday, August 23rd. The bank reported C$2.10 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.12 by C($0.02). The company had revenue of C$7.80 billion for the quarter, compared to the consensus estimate of C$8.01 billion.

BNS has been the subject of a number of other reports. CIBC reduced their price objective on shares of Bank of Nova Scotia from C$84.00 to C$77.00 in a research note on Wednesday, September 7th. National Bankshares reduced their price objective on shares of Bank of Nova Scotia from C$90.00 to C$85.00 in a research note on Friday, November 18th. TD Securities reduced their price objective on shares of Bank of Nova Scotia from C$84.00 to C$83.00 and set a “hold” rating for the company in a research note on Tuesday, August 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of Bank of Nova Scotia from C$86.00 to C$75.00 in a research note on Friday, November 18th. Finally, Barclays lifted their price target on shares of Bank of Nova Scotia to C$86.00 and gave the stock a “hold” rating in a research note on Wednesday, August 24th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$84.21.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at C$71.03 on Thursday. The firm has a market cap of C$84.62 billion and a price-to-earnings ratio of 8.52. Bank of Nova Scotia has a 1 year low of C$63.19 and a 1 year high of C$95.00. The company has a 50-day moving average of C$67.11 and a 200 day moving average of C$74.21.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 27th. Investors of record on Tuesday, October 4th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date was Monday, October 3rd. Bank of Nova Scotia’s payout ratio is 47.01%.

About Bank of Nova Scotia

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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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