Desjardins Weighs in on Bank of Nova Scotia’s Q1 2018 Earnings (BNS)
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Investment analysts at Desjardins issued their Q1 2018 EPS estimates for Bank of Nova Scotia in a research note issued to investors on Tuesday. Desjardins analyst D. Young expects that the bank will post earnings of $1.71 per share for the quarter. Desjardins also issued estimates for Bank of Nova Scotia’s Q2 2018 earnings at $1.65 EPS, Q3 2018 earnings at $1.73 EPS, Q4 2018 earnings at $1.71 EPS, FY2018 earnings at $6.80 EPS and FY2019 earnings at $7.34 EPS.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, November 28th. The bank reported C$1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.68 by C($0.03). Bank of Nova Scotia had a return on equity of 14.91% and a net margin of 30.50%. The company had revenue of C$6.81 billion for the quarter, compared to analyst estimates of C$7.05 billion. During the same quarter in the prior year, the company earned $1.58 earnings per share.
A number of other brokerages have also recently issued reports on BNS. National Bank Financial raised their target price on Bank of Nova Scotia from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 30th. Citigroup raised their price target on Bank of Nova Scotia from C$90.00 to C$93.00 in a research report on Friday, November 17th. Scotiabank dropped their price target on Bank of Nova Scotia from C$89.00 to C$88.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. CIBC raised their price target on Bank of Nova Scotia from C$85.00 to C$87.00 in a research report on Wednesday, August 30th. Finally, BMO Capital Markets raised their price target on Bank of Nova Scotia from C$83.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 30th. Eight investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of C$88.38.
Shares of Bank of Nova Scotia (TSE BNS) traded down C$0.03 during mid-day trading on Thursday, hitting C$81.70. The stock had a trading volume of 1,735,133 shares, compared to its average volume of 2,141,604. Bank of Nova Scotia has a 12 month low of C$73.25 and a 12 month high of C$85.50.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Tuesday, January 2nd will be given a $0.79 dividend. The ex-dividend date is Friday, December 29th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.87%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 46.73%.
In related news, insider Deborah Alexander sold 7,114 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of C$76.76, for a total transaction of C$546,070.64. Also, insider Kyle Mcnamara sold 3,036 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of C$80.53, for a total value of C$244,489.08. Insiders sold a total of 10,364 shares of company stock worth $807,789 in the last quarter.
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About Bank of Nova Scotia
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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