Scotiabank Lowers National Bank of Canada (TSE:NA) to Hold

Scotiabank downgraded shares of National Bank of Canada (TSE:NA) to a hold rating in a research note released on Tuesday, TipRanks reports. Scotiabank currently has C$113.00 price target on the financial services provider’s stock.

Several other research analysts have also recently issued reports on NA. CIBC raised their price objective on National Bank of Canada from C$102.00 to C$112.00 in a research note on Monday. TD Securities dropped their target price on National Bank of Canada from C$100.00 to C$99.00 and set a hold rating on the stock in a report on Thursday, August 26th. Canaccord Genuity raised their target price on National Bank of Canada from C$101.00 to C$103.50 and gave the stock a hold rating in a report on Thursday, August 26th. BMO Capital Markets raised their target price on National Bank of Canada from C$101.00 to C$104.00 and gave the stock an outperform rating in a report on Thursday, August 26th. Finally, Royal Bank of Canada raised their target price on National Bank of Canada from C$97.00 to C$99.00 and gave the stock a sector perform rating in a report on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of C$100.23.

National Bank of Canada stock opened at C$104.04 on Tuesday. National Bank of Canada has a one year low of C$70.81 and a one year high of C$106.10. The stock has a market cap of C$35.12 billion and a PE ratio of 12.79. The stock has a 50-day moving average of C$101.66 and a two-hundred day moving average of C$97.24.

National Bank of Canada (TSE:NA) last announced its quarterly earnings data on Wednesday, August 25th. The financial services provider reported C$2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.08 by C$0.28. The firm had revenue of C$2.25 billion during the quarter, compared to analysts’ expectations of C$2.17 billion. Equities research analysts predict that National Bank of Canada will post 8.9300006 EPS for the current fiscal year.

About National Bank of Canada

National Bank of Canada provides various financial products and services to retail, commercial, corporate, and institutional clients in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International.

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Analyst Recommendations for National Bank of Canada (TSE:NA)

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