Desjardins Issues Optimistic Forecast for TSE:BNS Earnings

The Bank of Nova Scotia (TSE:BNS - Free Report) NYSE: BNS - Equities researchers at Desjardins lifted their FY2024 EPS estimates for Bank of Nova Scotia in a note issued to investors on Friday, November 1st. Desjardins analyst D. Young now forecasts that the bank will post earnings per share of $6.49 for the year, up from their previous estimate of $6.45. The consensus estimate for Bank of Nova Scotia's current full-year earnings is $7.13 per share. Desjardins also issued estimates for Bank of Nova Scotia's FY2025 earnings at $7.15 EPS and FY2026 earnings at $8.10 EPS.

A number of other brokerages also recently weighed in on BNS. Cormark cut their price objective on Bank of Nova Scotia from C$68.00 to C$65.00 and set a "market perform" rating on the stock in a research note on Tuesday, August 20th. Royal Bank of Canada boosted their price objective on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 28th. Cibc World Mkts upgraded shares of Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 20th. TD Securities raised shares of Bank of Nova Scotia from a "hold" rating to a "buy" rating and boosted their target price for the stock from C$71.00 to C$80.00 in a research report on Monday. Finally, BMO Capital Markets decreased their price target on shares of Bank of Nova Scotia from C$74.00 to C$72.00 and set a "market perform" rating for the company in a report on Wednesday, August 28th. Ten research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Bank of Nova Scotia currently has an average rating of "Hold" and an average target price of C$69.00.

Bank of Nova Scotia Trading Up 1.8 %

TSE BNS traded up C$1.30 during trading on Monday, hitting C$73.74. 6,473,570 shares of the company traded hands, compared to its average volume of 4,326,831. Bank of Nova Scotia has a 12 month low of C$56.83 and a 12 month high of C$74.77. The business has a fifty day simple moving average of C$70.99 and a 200 day simple moving average of C$66.42. The company has a market capitalization of C$91.44 billion, a P/E ratio of 12.91, a PEG ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last released its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$1.63. The business had revenue of C$8.36 billion during the quarter, compared to analyst estimates of C$8.50 billion. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Wednesday, October 2nd. 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.