Equities Analysts Issue Forecasts for BNS FY2024 Earnings

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Analysts at Cormark cut their FY2024 earnings per share estimates for Bank of Nova Scotia in a research note issued on Monday, November 25th. Cormark analyst L. Persaud now expects that the bank will post earnings per share of $4.70 for the year, down from their prior estimate of $4.78. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.53 per share. Cormark also issued estimates for Bank of Nova Scotia’s FY2026 earnings at $5.77 EPS.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. The company had revenue of $8.36 billion during the quarter, compared to the consensus estimate of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.30 EPS.

BNS has been the subject of several other reports. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group upgraded shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 19th. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 21st. Finally, TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Bank of Nova Scotia Trading Up 0.2 %

NYSE:BNS opened at $56.55 on Tuesday. The company has a market capitalization of $70.37 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.52 and a beta of 1.05. The stock’s 50 day moving average price is $53.49 and its 200 day moving average price is $49.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.02 and a current ratio of 1.02. Bank of Nova Scotia has a 52 week low of $41.80 and a 52 week high of $56.79.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Bank of Nova Scotia by 260.1% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,480,486 shares of the bank’s stock valued at $298,575,000 after purchasing an additional 3,958,580 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Bank of Nova Scotia by 5,380.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,972,234 shares of the bank’s stock worth $216,447,000 after purchasing an additional 3,899,760 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Bank of Nova Scotia during the 2nd quarter valued at approximately $120,463,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Bank of Nova Scotia by 24.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,757,961 shares of the bank’s stock valued at $640,624,000 after buying an additional 2,346,995 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in Bank of Nova Scotia by 9.6% in the 3rd quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock worth $1,361,752,000 after buying an additional 2,195,604 shares during the period. Institutional investors own 49.13% of the company’s stock.

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.