The Bank of Nova Scotia (TSE:BNS) Given Consensus Recommendation of “Reduce” by Analysts

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has earned an average rating of “Reduce” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$66.68.

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Bank of Nova Scotia from C$69.00 to C$64.00 and set a “hold” rating on the stock in a research note on Thursday, June 6th. National Bankshares lowered their target price on shares of Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 29th. Canaccord Genuity Group lifted their target price on shares of Bank of Nova Scotia from C$70.00 to C$71.00 and gave the company a “hold” rating in a research note on Wednesday, May 29th. CIBC boosted their price target on shares of Bank of Nova Scotia from C$64.00 to C$68.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 29th. Finally, BMO Capital Markets boosted their price target on shares of Bank of Nova Scotia from C$69.00 to C$74.00 in a research note on Friday, April 5th.

Bank of Nova Scotia Price Performance

Shares of BNS stock opened at C$62.58 on Monday. Bank of Nova Scotia has a 1 year low of C$55.20 and a 1 year high of C$70.40. The firm has a fifty day moving average price of C$64.28 and a 200-day moving average price of C$64.62. The company has a market cap of C$76.97 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.33 and a beta of 0.98.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its earnings results on Tuesday, May 28th. The bank reported C$1.58 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.55 by C$0.03. Bank of Nova Scotia had a net margin of 26.41% and a return on equity of 9.89%. The company had revenue of C$8.35 billion for the quarter, compared to analysts’ expectations of C$8.32 billion. Equities research analysts expect that Bank of Nova Scotia will post 6.4780876 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Monday, July 29th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 6.78%. The ex-dividend date of this dividend is Wednesday, July 3rd. Bank of Nova Scotia’s dividend payout ratio is 69.97%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.