Desjardins Analysts Lower Earnings Estimates for The Bank of Nova Scotia (NYSE:BNS)

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Equities research analysts at Desjardins reduced their Q4 2024 earnings estimates for shares of Bank of Nova Scotia in a report released on Tuesday, August 27th. Desjardins analyst D. Young now forecasts that the bank will post earnings of $1.14 per share for the quarter, down from their previous forecast of $1.17. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.82 per share.

Other equities research analysts have also recently issued research reports about the company. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. UBS Group assumed coverage on shares of Bank of Nova Scotia in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.00.

Bank of Nova Scotia Trading Up 0.6 %

Shares of NYSE:BNS opened at $49.22 on Thursday. The company has a 50-day simple moving average of $46.37 and a 200 day simple moving average of $47.52. The company has a market capitalization of $60.52 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a 52-week low of $39.79 and a 52-week high of $51.98.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The company had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 3.7% compared to the same quarter last year.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.768 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a yield of 6.24%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 69.59%.

Institutional Investors Weigh In On Bank of Nova Scotia

Large investors have recently bought and sold shares of the company. Mather Group LLC. boosted its holdings in shares of Bank of Nova Scotia by 1,388.9% in the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. grew its position in Bank of Nova Scotia by 3,127.8% in the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after acquiring an additional 563 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in Bank of Nova Scotia by 70.6% during the first quarter. Bruce G. Allen Investments LLC now owns 585 shares of the bank’s stock worth $30,000 after acquiring an additional 242 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Bank of Nova Scotia by 144.6% in the first quarter. Global Retirement Partners LLC now owns 959 shares of the bank’s stock worth $50,000 after acquiring an additional 567 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Bank of Nova Scotia in the 1st quarter valued at approximately $53,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.

About Bank of Nova Scotia

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.