Bank of Nova Scotia (TSE:BNS) Receives C$84.82 Average Price Target from Analysts
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has earned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$84.82.
A number of research analysts have recently weighed in on the company. Barclays PLC upgraded Bank of Nova Scotia from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a C$86.00 price target on shares of Bank of Nova Scotia in a report on Tuesday, April 18th. Finally, Scotiabank lifted their price target on Bank of Nova Scotia from C$86.00 to C$89.00 and gave the company an “outperform” rating in a report on Wednesday, May 31st.
Shares of Bank of Nova Scotia (TSE BNS) traded down 0.15% on Tuesday, reaching $78.42. The company had a trading volume of 1,384,592 shares. The company has a market capitalization of $94.25 billion and a price-to-earnings ratio of 12.47. The stock has a 50 day moving average price of $77.11 and a 200-day moving average price of $77.64. Bank of Nova Scotia has a 12 month low of $64.18 and a 12 month high of $82.30.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings results on Tuesday, May 30th. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.07. Bank of Nova Scotia had a return on equity of 14.58% and a net margin of 31.32%. The business had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.61 billion. Analysts forecast that Bank of Nova Scotia will post $6.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Stockholders of record on Tuesday, July 4th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.88%.
In other Bank of Nova Scotia news, Director Brian J. Porter acquired 1,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were acquired at an average cost of C$77.74 per share, for a total transaction of C$77,740.00.
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Bank of Nova Scotia 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.
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