Bank of Nova Scotia (TSE:BNS) Given a C$67.00 Price Target at UBS Group

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has been assigned a C$67.00 target price by equities researchers at UBS Group in a research report issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “neutral” rating on the bank’s stock. UBS Group’s target price would indicate a potential upside of 7.48% from the stock’s previous close.

Several other brokerages have also recently commented on BNS. Royal Bank of Canada decreased their price target on shares of Bank of Nova Scotia from C$64.00 to C$62.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 29th. TD Securities decreased their price objective on shares of Bank of Nova Scotia from C$72.00 to C$69.00 in a research report on Friday, May 10th. Canaccord Genuity Group lifted their price target on shares of Bank of Nova Scotia from C$70.00 to C$71.00 and gave the stock a “hold” rating in a research note on Wednesday, May 29th. National Bankshares cut their price target 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. Finally, Jefferies Financial Group cut their price target 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. One investment analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$66.70.

Bank of Nova Scotia Price Performance

Shares of TSE:BNS traded down C$0.24 during mid-day trading on Tuesday, reaching C$62.34. 1,860,343 shares of the company were exchanged, compared to its average volume of 4,014,481. The firm has a market cap of C$76.68 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 1.33 and a beta of 0.98. The firm’s 50-day simple moving average is C$64.28 and its 200 day simple moving average is C$64.62. Bank of Nova Scotia has a 1 year low of C$55.20 and a 1 year high of C$70.40.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings results on Tuesday, May 28th. The bank reported C$1.58 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of C$8.32 billion. On average, research analysts forecast that Bank of Nova Scotia will post 6.4780876 earnings per share for the current fiscal year.

About Bank of Nova Scotia

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.