Bank of Nova Scotia (TSE:BNS) Price Target Cut to C$69.00 by Analysts at Cormark

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) had its price target decreased by Cormark from C$70.00 to C$69.00 in a research note issued to investors on Thursday, BayStreet.CA reports. Cormark also issued estimates for Bank of Nova Scotia’s Q2 2023 earnings at $1.80 EPS, FY2023 earnings at $7.49 EPS and FY2024 earnings at $7.82 EPS.

Several other equities analysts also recently commented on BNS. Fundamental Research set a C$86.76 price target on shares of Bank of Nova Scotia and gave the company a buy rating in a research note on Tuesday, March 14th. CSFB decreased their target price on shares of Bank of Nova Scotia from C$72.00 to C$70.00 in a research report on Tuesday, May 16th. National Bankshares lowered their target price on shares of Bank of Nova Scotia from C$69.00 to C$66.00 and set a sector perform rating on the stock in a report on Thursday. Canaccord Genuity Group cut their price target on Bank of Nova Scotia from C$68.00 to C$67.00 in a research note on Thursday. Finally, CIBC reduced their price target on Bank of Nova Scotia from C$77.00 to C$74.00 in a research report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of C$74.34.

Bank of Nova Scotia Stock Up 1.6 %

Bank of Nova Scotia stock opened at C$66.72 on Thursday. Bank of Nova Scotia has a twelve month low of C$63.19 and a twelve month high of C$86.22. The stock has a market cap of C$79.40 billion, a P/E ratio of 9.22, a P/E/G ratio of 2.97 and a beta of 0.94. The company’s 50-day moving average price is C$67.08 and its two-hundred day moving average price is C$68.39.

Bank of Nova Scotia (TSE:BNSGet Rating) (NYSE:BNS) last announced its earnings results on Tuesday, February 28th. The bank reported C$1.85 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.04 by C($0.19). The firm had revenue of C$7.98 billion for the quarter, compared to the consensus estimate of C$8.25 billion. Bank of Nova Scotia had a return on equity of 12.30% and a net margin of 30.69%. Equities analysts anticipate that Bank of Nova Scotia will post 7.6121281 earnings per share for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 26th. Investors of record on Tuesday, April 4th were given a dividend of $1.03 per share. The ex-dividend date was Monday, April 3rd. This represents a $4.12 annualized dividend and a dividend yield of 6.18%. Bank of Nova Scotia’s dividend payout ratio is currently 56.91%.

About Bank of Nova Scotia

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The Bank of Nova Scotia engages in the provision of various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through four segments: Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets.

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Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

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