FY2017 Earnings Estimate for Bank of Nova Scotia (The) Issued By Cormark (BNS)

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) – Cormark upped their FY2017 earnings per share estimates for shares of Bank of Nova Scotia (The) in a report issued on Wednesday. Cormark analyst M. Grauman now anticipates that the bank will earn $5.27 per share for the year, up from their prior forecast of $4.89. Cormark also issued estimates for Bank of Nova Scotia (The)’s Q4 2017 earnings at $1.35 EPS, Q1 2018 earnings at $1.40 EPS, Q2 2018 earnings at $1.38 EPS, Q3 2018 earnings at $1.47 EPS, Q4 2018 earnings at $1.48 EPS and FY2018 earnings at $5.73 EPS.

A number of other equities analysts also recently weighed in on BNS. BidaskClub downgraded shares of Bank of Nova Scotia (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Bank of America Corporation increased their price target on shares of Bank of Nova Scotia (The) from $81.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Canaccord Genuity set a $87.00 price target on shares of Bank of Nova Scotia (The) and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank reaffirmed a “buy” rating and set a $88.00 price target on shares of Bank of Nova Scotia (The) in a research note on Wednesday. Finally, Royal Bank Of Canada increased their price target on shares of Bank of Nova Scotia (The) from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 31st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $83.20.

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Shares of Bank of Nova Scotia (NYSE BNS) opened at 62.70 on Thursday. The firm has a market cap of $75.36 billion, a P/E ratio of 12.41 and a beta of 1.27. The company has a 50-day moving average of $61.76 and a 200 day moving average of $59.20. Bank of Nova Scotia has a 12-month low of $51.21 and a 12-month high of $63.07.

Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) last posted its earnings results on Tuesday, August 29th. The bank reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.65 by $0.38. Bank of Nova Scotia (The) had a net margin of 22.26% and a return on equity of 14.54%. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business posted $1.54 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Tuesday, October 3rd will be paid a $0.6294 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Monday, October 2nd. This is an increase from Bank of Nova Scotia (The)’s previous quarterly dividend of $0.56. Bank of Nova Scotia (The)’s dividend payout ratio (DPR) is currently 46.30%.

Bank of Nova Scotia (The) announced that its board has authorized a share buyback plan on Tuesday, May 30th that permits the company to buyback 24,000,000 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Several institutional investors have recently modified their holdings of BNS. Karp Capital Management Corp acquired a new position in shares of Bank of Nova Scotia (The) during the first quarter worth approximately $42,686,000. British Columbia Investment Management Corp increased its position in shares of Bank of Nova Scotia (The) by 1.5% in the first quarter. British Columbia Investment Management Corp now owns 186,619 shares of the bank’s stock worth $8,196,000 after buying an additional 2,800 shares in the last quarter. World Asset Management Inc increased its position in shares of Bank of Nova Scotia (The) by 1.5% in the first quarter. World Asset Management Inc now owns 75,047 shares of the bank’s stock worth $4,396,000 after buying an additional 1,126 shares in the last quarter. Baskin Financial Services Inc. increased its position in shares of Bank of Nova Scotia (The) by 3.9% in the first quarter. Baskin Financial Services Inc. now owns 251,002 shares of the bank’s stock worth $14,657,000 after buying an additional 9,472 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bank of Nova Scotia (The) by 14.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 914,370 shares of the bank’s stock worth $53,341,000 after buying an additional 114,974 shares in the last quarter. 45.12% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia (The) Company Profile

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

Earnings History and Estimates for Bank of Nova Scotia (The) (NYSE:BNS)

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