The Bank of Nova Scotia (TSE:BNS) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have received an average rating of “Reduce” from the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$66.57.

A number of brokerages recently commented on BNS. UBS Group set a C$67.00 price target on Bank of Nova Scotia and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Canaccord Genuity Group increased their target price on Bank of Nova Scotia from C$70.00 to C$71.00 and gave the stock a “hold” rating in a report on Wednesday, May 29th. Jefferies Financial Group increased their target price on Bank of Nova Scotia from C$64.00 to C$65.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Royal Bank of Canada reduced their target price on Bank of Nova Scotia from C$64.00 to C$62.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 29th. Finally, National Bankshares reduced their target price on Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 29th.

Bank of Nova Scotia Price Performance

Shares of BNS opened at C$64.50 on Tuesday. The stock’s 50-day moving average is C$63.30 and its two-hundred day moving average is C$64.72. The stock has a market cap of C$79.34 billion, a PE ratio of 10.73, a P/E/G ratio of 1.33 and a beta of 0.96. Bank of Nova Scotia has a 12 month low of C$54.29 and a 12 month high of C$70.40.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, May 28th. The bank reported C$1.58 EPS for the quarter, topping the consensus estimate of C$1.55 by C$0.03. The business had revenue of C$8.35 billion for the quarter, compared to analysts’ expectations of C$8.32 billion. Bank of Nova Scotia had a return on equity of 9.91% and a net margin of 26.43%. On average, research analysts anticipate that Bank of Nova Scotia will post 7.0108696 earnings per share for the current year.

Bank of Nova Scotia Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Monday, July 29th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Wednesday, July 3rd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 70.55%.

Bank of Nova Scotia Company Profile

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.