The Bank of Nova Scotia (TSE:BNS) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS has earned an average rating of "Moderate Buy" from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$74.75.

A number of analysts have issued reports on the company. Canaccord Genuity Group raised Bank of Nova Scotia from a "hold" rating to a "buy" rating and boosted their target price for the company from C$71.00 to C$84.00 in a research report on Tuesday. CIBC raised Bank of Nova Scotia from a "neutral" rating to an "outperform" rating and boosted their target price for the company from C$78.00 to C$82.00 in a research report on Friday, September 20th. Jefferies Financial Group boosted their target price on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Royal Bank of Canada boosted their target price on Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 28th. Finally, UBS Group raised Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research report on Monday.

Bank of Nova Scotia Stock Down 0.3 %

Shares of Bank of Nova Scotia stock traded down C$0.21 on Thursday, hitting C$78.50. 3,579,822 shares of the company were exchanged, compared to its average volume of 4,258,677. The stock has a market capitalization of C$97.34 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The company has a 50-day moving average price of C$73.12 and a 200 day moving average price of C$67.40. Bank of Nova Scotia has a 1-year low of C$56.83 and a 1-year high of C$79.16.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last issued its earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, hitting the consensus estimate of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to analysts' expectations of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. Research analysts forecast that Bank of Nova Scotia will post 7.1286267 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were paid a $1.06 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.40%. Bank of Nova Scotia's dividend payout ratio (DPR) is presently 74.26%.

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.