Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$84.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price lifted by research analysts at BMO Capital Markets from C$72.00 to C$84.00 in a research note issued on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 8.30% from the stock’s current price.

A number of other research analysts have also recently issued reports on BNS. Cormark dropped their target price on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a report on Tuesday, August 20th. Royal Bank of Canada increased their target price on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. TD Securities increased their target price on shares of Bank of Nova Scotia from C$80.00 to C$82.00 in a report on Friday. Jefferies Financial Group increased their target price on shares of Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, CIBC raised shares of Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from C$78.00 to C$82.00 in a research note on Friday, September 20th. Ten equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$70.17.

Bank of Nova Scotia Stock Up 2.1 %

TSE BNS traded up C$1.62 during trading hours on Monday, hitting C$77.56. 2,158,184 shares of the stock were exchanged, compared to its average volume of 4,257,092. The company has a market cap of C$96.17 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 12-month low of C$56.83 and a 12-month high of C$77.58. The stock has a 50-day moving average of C$72.54 and a 200 day moving average of C$67.12.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$1.63. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. The firm had revenue of C$8.36 billion during the quarter, compared to analysts’ expectations of C$8.50 billion. On average, equities research analysts expect that Bank of Nova Scotia will post 7.1286267 earnings per share for the current year.

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.