FY2024 EPS Estimates for The Bank of Nova Scotia (NYSE:BNS) Reduced by Analyst

The Bank of Nova Scotia (NYSE:BNSFree Report) (TSE:BNS) – Analysts at National Bank Financial dropped their FY2024 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a research note issued to investors on Tuesday, May 28th. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings of $4.81 per share for the year, down from their prior forecast of $4.96. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.87 per share. National Bank Financial also issued estimates for Bank of Nova Scotia’s Q4 2024 earnings at $1.20 EPS and FY2025 earnings at $5.07 EPS.

Bank of Nova Scotia (NYSE:BNSGet Free Report) (TSE:BNS) last released its quarterly earnings data on Tuesday, February 27th. The bank reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.06. Bank of Nova Scotia had a return on equity of 11.44% and a net margin of 10.40%. The business had revenue of $14.13 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the previous year, the firm posted $1.37 EPS.

A number of other brokerages have also issued reports on BNS. Barclays assumed coverage on Bank of Nova Scotia in a research report on Wednesday, March 20th. They set an “underweight” rating and a $70.00 price target for the company. StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Jefferies Financial Group assumed coverage on Bank of Nova Scotia in a research note on Thursday, February 22nd. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.00.

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Bank of Nova Scotia Trading Up 1.2 %

Shares of BNS stock opened at $46.86 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a 1 year low of $39.79 and a 1 year high of $51.98. The stock has a fifty day moving average of $48.20 and a two-hundred day moving average of $47.31. The firm has a market capitalization of $57.62 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BNS. Vanguard Group Inc. boosted its stake in shares of Bank of Nova Scotia by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 47,862,189 shares of the bank’s stock worth $2,478,304,000 after acquiring an additional 891,157 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Bank of Nova Scotia by 3.4% during the 3rd quarter. Toronto Dominion Bank now owns 22,567,680 shares of the bank’s stock worth $1,028,861,000 after acquiring an additional 736,807 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Bank of Nova Scotia by 23.2% during the 4th quarter. TD Asset Management Inc now owns 19,841,901 shares of the bank’s stock worth $970,577,000 after acquiring an additional 3,731,541 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Bank of Nova Scotia by 16.1% during the 1st quarter. 1832 Asset Management L.P. now owns 17,015,877 shares of the bank’s stock worth $881,082,000 after acquiring an additional 2,361,136 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Bank of Nova Scotia by 17.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,563,337 shares of the bank’s stock worth $753,658,000 after acquiring an additional 2,178,633 shares in the last quarter. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd will be paid a $0.769 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $3.08 dividend on an annualized basis and a yield of 6.56%. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 69.25%.

Bank of Nova Scotia Company Profile

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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 through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.

See Also

Earnings History and Estimates for Bank of Nova Scotia (NYSE:BNS)

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