Bank of Nova Scotia (NYSE:BNS) Announces Quarterly Earnings Results

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) posted its quarterly earnings data on Tuesday. The bank reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01, Briefing.com reports. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The business had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year.

Bank of Nova Scotia Stock Down 2.1 %

Shares of NYSE:BNS opened at $48.92 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $60.14 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.70 and a beta of 1.04. The business has a 50-day moving average price of $46.32 and a 200 day moving average price of $47.51. Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $51.98.

Bank of Nova Scotia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd will be paid a $0.768 dividend. This represents a $3.07 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 69.59%.

Wall Street Analyst Weigh In

BNS has been the topic of several recent analyst reports. StockNews.com downgraded shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. UBS Group started coverage on shares of Bank of Nova Scotia in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.00.

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.