Cormark Brokers Reduce Earnings Estimates for Bank of Nova Scotia (BNS)

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Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Equities researchers at Cormark cut their Q2 2019 EPS estimates for Bank of Nova Scotia in a report released on Wednesday, May 15th. Cormark analyst M. Grauman now anticipates that the bank will post earnings of $1.76 per share for the quarter, down from their prior estimate of $1.85.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings results on Tuesday, February 26th. The bank reported C$1.75 EPS for the quarter, missing analysts’ consensus estimates of C$1.87 by C($0.12). The business had revenue of C$7.60 billion for the quarter, compared to analyst estimates of C$8.21 billion.

A number of other equities research analysts have also recently commented on the stock. CSFB set a C$78.00 price target on shares of Bank of Nova Scotia and gave the stock an “outperform” rating in a report on Thursday. Canaccord Genuity dropped their price objective on shares of Bank of Nova Scotia from C$76.00 to C$74.00 in a research note on Wednesday. CIBC lowered shares of Bank of Nova Scotia from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from C$86.00 to C$81.00 in a research note on Wednesday, February 27th. Desjardins dropped their price objective on shares of Bank of Nova Scotia from C$83.00 to C$81.00 in a research note on Wednesday, February 27th. Finally, National Bank Financial dropped their price objective on shares of Bank of Nova Scotia from C$80.00 to C$78.00 in a research note on Wednesday, February 27th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Bank of Nova Scotia currently has a consensus rating of “Buy” and an average price target of C$83.08.

TSE:BNS opened at C$71.45 on Friday. The firm has a market capitalization of $87.49 billion and a price-to-earnings ratio of 10.71. Bank of Nova Scotia has a 12 month low of C$66.36 and a 12 month high of C$80.79.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Tuesday, April 2nd were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 4.87%. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Monday, April 1st. Bank of Nova Scotia’s dividend payout ratio (DPR) is 50.08%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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

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