Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Cormark dropped their Q2 2018 earnings per share estimates for shares of Bank of Nova Scotia in a research report issued to clients and investors on Wednesday. Cormark analyst M. Grauman now forecasts that the bank will post earnings per share of $1.64 for the quarter, down from their previous estimate of $1.66. Cormark also issued estimates for Bank of Nova Scotia’s FY2018 earnings at $7.01 EPS, Q1 2019 earnings at $1.82 EPS, Q2 2019 earnings at $1.84 EPS, Q3 2019 earnings at $1.95 EPS, Q4 2019 earnings at $1.98 EPS and FY2019 earnings at $7.58 EPS.
Several other research analysts have also commented on the stock. TD Securities upped their price objective on shares of Bank of Nova Scotia from C$92.00 to C$93.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets set a C$86.00 target price on shares of Bank of Nova Scotia and gave the stock an “outperform” rating in a research report on Wednesday. Scotiabank upped their target price on shares of Bank of Nova Scotia from C$91.00 to C$93.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays upped their target price on shares of Bank of Nova Scotia from C$87.00 to C$89.00 in a research report on Wednesday. Finally, Desjardins upped their target price on shares of Bank of Nova Scotia from C$91.00 to C$92.00 and gave the stock a “buy” rating in a research report on Wednesday. Eight research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of C$90.91.
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings data on Tuesday, November 28th. The bank reported C$1.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.68 by C($0.03). Bank of Nova Scotia had a return on equity of 14.64% and a net margin of 30.39%. The company had revenue of C$6.81 billion during the quarter, compared to the consensus estimate of C$7.05 billion. During the same quarter last year, the company posted $1.58 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 26th. Stockholders of record on Tuesday, April 3rd will be given a $0.82 dividend. This is an increase from Bank of Nova Scotia’s previous quarterly dividend of $0.79. This represents a $3.28 dividend on an annualized basis and a dividend yield of 4.13%. Bank of Nova Scotia’s dividend payout ratio is currently 45.72%.
In other news, insider Barbara Frances Mason sold 20,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of C$82.60, for a total value of C$1,652,000.00.
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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