The Bank of Nova Scotia (TSE:BNS) Receives Average Rating of “Reduce” from Brokerages

The Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) has received an average rating of “Hold” from the fifteen ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$74.34.

BNS has been the topic of several analyst reports. Fundamental Research set a C$86.76 target price on Bank of Nova Scotia and gave the company a “buy” rating in a report on Tuesday, March 14th. CIBC cut their target price on Bank of Nova Scotia from C$77.00 to C$74.00 in a research note on Tuesday, May 16th. TD Securities cut their target price on Bank of Nova Scotia from C$72.00 to C$69.00 and set a “hold” rating on the stock in a research report on Wednesday, March 1st. Veritas Investment Research reiterated a “reduce” rating on shares of Bank of Nova Scotia in a report on Monday, February 27th. Finally, CSFB decreased their price target on Bank of Nova Scotia from C$72.00 to C$70.00 in a research note on Tuesday, May 16th.

Bank of Nova Scotia Stock Up 1.6 %

BNS stock opened at C$66.72 on Friday. The business has a 50 day moving average price of C$67.08 and a 200 day moving average price of C$68.39. The stock has a market cap of C$79.40 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 2.97 and a beta of 0.94. Bank of Nova Scotia has a fifty-two week low of C$63.19 and a fifty-two week high of C$86.22.

Bank of Nova Scotia (TSE:BNS – Get Rating) (NYSE:BNS) last released its quarterly earnings data on Tuesday, February 28th. The bank reported C$1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.04 by C($0.19). The business had revenue of C$7.98 billion during the quarter, compared to analysts’ expectations of C$8.25 billion. Bank of Nova Scotia had a return on equity of 12.30% and a net margin of 30.69%. As a group, sell-side analysts anticipate that Bank of Nova Scotia will post 7.6121281 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Tuesday, April 4th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend was Monday, April 3rd. Bank of Nova Scotia’s dividend payout ratio (DPR) 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.