Royal Bank of Canada Lowers Bank of Nova Scotia (TSE:BNS) Price Target to C$62.00

Bank of Nova Scotia (TSE:BNSGet Free Report) (NYSE:BNS) had its price target dropped by equities research analysts at Royal Bank of Canada from C$64.00 to C$62.00 in a report issued on Wednesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price target points to a potential downside of 3.31% from the stock’s current price.

A number of other research firms have also commented on BNS. CIBC boosted their price objective on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on shares of Bank of Nova Scotia from C$66.00 to C$69.00 in a research report on Monday, May 13th. Desjardins raised their price objective on shares of Bank of Nova Scotia from C$64.00 to C$68.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. National Bankshares reduced their target price on shares of Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, TD Securities decreased their price target on shares of Bank of Nova Scotia from C$72.00 to C$69.00 in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$67.74.

Read Our Latest Stock Report on Bank of Nova Scotia

Bank of Nova Scotia Trading Up 1.0 %

Shares of Bank of Nova Scotia stock opened at C$64.12 on Wednesday. The stock has a market capitalization of C$78.87 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.33 and a beta of 0.98. The firm’s 50-day moving average price is C$65.85 and its two-hundred day moving average price is C$64.09. Bank of Nova Scotia has a 1-year low of C$55.20 and a 1-year high of C$70.40.

Bank of Nova Scotia (TSE:BNSGet Free Report) (NYSE:BNS) last announced its earnings results on Tuesday, February 27th. The bank reported C$1.69 EPS for the quarter, topping the consensus estimate of C$1.61 by C$0.08. Bank of Nova Scotia had a return on equity of 9.89% and a net margin of 26.41%. The business had revenue of C$8.43 billion for the quarter, compared to the consensus estimate of C$8.12 billion. As a group, equities research analysts predict that Bank of Nova Scotia will post 6.4780876 EPS for the current year.

Bank of Nova Scotia Company Profile

(Get Free Report)

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.

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