The Bank of Nova Scotia (TSE:BNS) Receives C$68.25 Consensus Target Price from Analysts

Shares of The Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS have been given an average recommendation of "Hold" by the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$68.25.

Several equities research analysts have recently commented on the stock. BMO Capital Markets lowered 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 research report on Wednesday, August 28th. Cormark reduced their price target 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 report on Tuesday, August 20th. Jefferies Financial Group lifted their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Cibc World Mkts raised Bank of Nova Scotia from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 20th. Finally, CIBC upgraded Bank of Nova Scotia from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from C$78.00 to C$82.00 in a research report on Friday, September 20th.

Bank of Nova Scotia Stock Performance

Shares of BNS opened at C$73.53 on Wednesday. The business's fifty day moving average price is C$67.10 and its two-hundred day moving average price is C$65.74. The firm has a market capitalization of C$91.18 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.33 and a beta of 0.96. Bank of Nova Scotia has a 52 week low of C$54.29 and a 52 week high of C$74.25.

Bank of Nova Scotia (TSE:BNS - Get Free Report) NYSE: BNS last posted its quarterly earnings results 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 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%. As a group, research analysts forecast that Bank of Nova Scotia will post 6.9630682 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Tuesday, October 29th will be paid a dividend of $1.06 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $4.24 dividend on an annualized basis and a yield of 5.77%. Bank of Nova Scotia's payout ratio is 74.26%.

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.