Bank of Nova Scotia (BNS) Set to Announce Earnings on Wednesday

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) is scheduled to announce its earnings results before the market opens on Wednesday, May 24th. Analysts expect the company to announce earnings of $1.33 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Bank of Nova Scotia (NYSE:BNS – Get Rating) (TSE:BNS) last issued its quarterly earnings results on Tuesday, February 28th. The bank reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.15). Bank of Nova Scotia had a net margin of 17.03% and a return on equity of 15.08%. The business had revenue of $5.93 billion during the quarter, compared to analyst estimates of $6.10 billion. On average, analysts expect Bank of Nova Scotia to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $49.26 on Monday. Bank of Nova Scotia has a twelve month low of $45.26 and a twelve month high of $68.59. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $59.02 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 2.05 and a beta of 1.02. The firm has a 50-day moving average of $49.52 and a two-hundred day moving average of $50.65.

Bank of Nova Scotia Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Shareholders of record on Tuesday, April 4th were issued a $0.774 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 6.29%. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.76. The ex-dividend date was Monday, April 3rd. Bank of Nova Scotia’s dividend payout ratio is presently 54.86%.

Hedge Funds Weigh In On Bank of Nova Scotia

A number of large investors have recently made changes to their positions in BNS. Norges Bank acquired a new position in Bank of Nova Scotia in the fourth quarter worth approximately $588,957,000. Vanguard Group Inc. increased its holdings in Bank of Nova Scotia by 3.3% in the first quarter. Vanguard Group Inc. now owns 40,996,068 shares of the bank’s stock worth $2,940,238,000 after buying an additional 1,320,299 shares during the last quarter. Triasima Portfolio Management inc. acquired a new position in Bank of Nova Scotia in the fourth quarter worth approximately $32,963,000. Mackenzie Financial Corp increased its holdings in Bank of Nova Scotia by 4.1% in the fourth quarter. Mackenzie Financial Corp now owns 16,557,752 shares of the bank’s stock worth $809,940,000 after buying an additional 659,492 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Bank of Nova Scotia by 64.1% in the second quarter. Goldman Sachs Group Inc. now owns 1,662,056 shares of the bank’s stock worth $98,410,000 after buying an additional 649,476 shares during the last quarter. Institutional investors and hedge funds own 45.19% of the company’s stock.

Analyst Ratings Changes

BNS has been the topic of several recent analyst reports. Canaccord Genuity Group downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. StockNews.com initiated coverage on Bank of Nova Scotia in a report on Thursday. They set a “sell” rating on the stock. Barclays downgraded Bank of Nova Scotia from an “equal weight” rating to an “underweight” rating in a report on Tuesday, May 9th. Scotiabank downgraded Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. Finally, Royal Bank of Canada cut their price objective on Bank of Nova Scotia from $86.00 to $77.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia has an average rating of “Hold” and a consensus target price of $87.15.

Bank of Nova Scotia Company Profile

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The Bank of Nova Scotia engages in the provision of financial products and services including personal, commercial, corporate, and investment banking. It operates through the following segments: Canadian Banking, International Banking, Global Wealth Management, Global Banking and Markets, and Other. The Other segment includes group treasury and smaller operating segments.