National Bank Financial Comments on The Bank of Nova Scotia’s FY2022 Earnings (NYSE:BNS)

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Equities researchers at National Bank Financial upped their FY2022 earnings per share (EPS) estimates for Bank of Nova Scotia in a research note issued to investors on Monday, November 22nd. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings of $6.65 per share for the year, up from their previous forecast of $6.46. National Bank Financial has a “Sector Perform” rating and a $86.00 price objective on the stock. National Bank Financial also issued estimates for Bank of Nova Scotia’s FY2023 earnings at $6.73 EPS.

BNS has been the subject of several other research reports. Veritas Investment Research reaffirmed a “buy” rating on shares of Bank of Nova Scotia in a report on Friday, November 12th. Zacks Investment Research lowered Bank of Nova Scotia from a “buy” rating to a “hold” rating in a report on Tuesday. Fundamental Research lifted their price objective on Bank of Nova Scotia from $85.00 to $87.68 and gave the stock a “buy” rating in a report on Wednesday, September 1st. Royal Bank of Canada lifted their price objective on Bank of Nova Scotia from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a report on Wednesday, August 25th. Finally, Credit Suisse Group cut their price objective on Bank of Nova Scotia from C$85.00 to C$84.00 and set a “neutral” rating for the company in a report on Wednesday, August 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Buy” and an average price target of $86.43.

Bank of Nova Scotia stock opened at $65.74 on Thursday. The firm has a market cap of $79.90 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.74 and a beta of 0.93. The stock has a fifty day simple moving average of $64.36 and a two-hundred day simple moving average of $64.19. Bank of Nova Scotia has a 12 month low of $48.69 and a 12 month high of $68.02. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.42.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last announced its quarterly earnings data on Monday, August 23rd. The bank reported $2.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.51. The business had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.77 billion. Bank of Nova Scotia had a return on equity of 13.87% and a net margin of 22.86%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share.

Hedge funds have recently modified their holdings of the stock. Tradition Wealth Management LLC purchased a new position in Bank of Nova Scotia in the 2nd quarter worth $26,000. D Orazio & Associates Inc. purchased a new position in Bank of Nova Scotia in the 3rd quarter worth $30,000. Tower View Investment Management & Research LLC purchased a new position in Bank of Nova Scotia in the 3rd quarter worth $31,000. Kistler Tiffany Companies LLC raised its stake in Bank of Nova Scotia by 124.5% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 595 shares of the bank’s stock worth $37,000 after acquiring an additional 330 shares during the last quarter. Finally, Baldwin Brothers Inc. MA acquired a new stake in Bank of Nova Scotia during the 2nd quarter worth about $39,000. Institutional investors own 45.56% of the company’s stock.

About Bank of Nova Scotia

The Bank of Nova Scotia engages in the provision of financial products and services, including personal, commercial, corporate, and investment banking. It operates through the following segments: Canadian Banking, International Banking, Global Banking and Markets, and Other. The Other segment includes group treasury, smaller operating segments and business line elimination items.

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

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