FY2018 EPS Estimates for Bank of Nova Scotia Decreased by Cormark (BNS)
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Research analysts at Cormark decreased their FY2018 earnings estimates for shares of Bank of Nova Scotia in a research note issued on Wednesday. Cormark analyst M. Grauman now forecasts that the bank will post earnings per share of $6.86 for the year, down from their prior forecast of $6.99. Cormark also issued estimates for Bank of Nova Scotia’s Q1 2019 earnings at $1.77 EPS, Q2 2019 earnings at $1.79 EPS, Q3 2019 earnings at $1.89 EPS, Q4 2019 earnings at $1.90 EPS and FY2019 earnings at $7.36 EPS.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings data on Tuesday, November 28th. The bank reported C$1.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$1.68 by C($0.03). The company had revenue of C$6.81 billion for the quarter, compared to the consensus estimate of C$7.05 billion. Bank of Nova Scotia had a net margin of 30.50% and a return on equity of 14.91%. During the same quarter last year, the company earned $1.58 EPS.
A number of other brokerages also recently weighed in on BNS. Citigroup increased their price objective on shares of Bank of Nova Scotia from C$90.00 to C$93.00 in a research report on Friday, November 17th. Canaccord Genuity increased their price objective on shares of Bank of Nova Scotia from C$88.00 to C$92.00 in a research report on Wednesday, November 1st. CIBC increased their price objective on shares of Bank of Nova Scotia from C$87.00 to C$93.00 in a research report on Monday, November 13th. Royal Bank Of Canada increased their price objective on shares of Bank of Nova Scotia from C$87.00 to C$91.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, National Bank Financial increased their price objective on shares of Bank of Nova Scotia from C$86.00 to C$88.00 and gave the company an “outperform” rating in a research report on Wednesday. Eight analysts have rated the stock with a buy rating, Bank of Nova Scotia has an average rating of “Buy” and a consensus price target of C$88.38.
Shares of Bank of Nova Scotia (BNS) traded up C$0.33 during trading on Thursday, reaching C$81.84. 1,739,702 shares of the company were exchanged, compared to its average volume of 2,143,457. Bank of Nova Scotia has a 12 month low of C$73.31 and a 12 month high of C$85.50.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $3.16 dividend on an annualized basis and a yield of 3.86%. Bank of Nova Scotia’s dividend payout ratio is currently 47.00%.
In other Bank of Nova Scotia news, insider Kyle Mcnamara sold 3,036 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of C$80.53, for a total transaction of C$244,489.08. Also, insider Deborah Alexander sold 7,114 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of C$76.76, for a total transaction of C$546,070.64. Over the last ninety days, insiders have sold 10,364 shares of company stock valued at $807,789.
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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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