Bank of Nova Scotia (NYSE:BNS) Releases Quarterly Earnings Results, Beats Expectations By $0.44 EPS

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) issued its quarterly earnings data on Tuesday. The bank reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.44, Briefing.com reports. Bank of Nova Scotia had a net margin of 18.32% and a return on equity of 13.53%. The company had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $7.98 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. Bank of Nova Scotia’s revenue for the quarter was up 7.1% on a year-over-year basis.

BNS stock opened at $56.41 on Thursday. The firm has a market cap of $69.30 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.86 and a beta of 1.18. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. Bank of Nova Scotia has a 12-month low of $48.34 and a 12-month high of $58.22. The company’s fifty day simple moving average is $57.34 and its 200 day simple moving average is $54.50.

Several brokerages recently weighed in on BNS. Zacks Investment Research cut shares of Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Credit Suisse Group boosted their price objective on shares of Bank of Nova Scotia from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. BMO Capital Markets reduced their price objective on shares of Bank of Nova Scotia from $80.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 28th. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $62.00 in a research note on Tuesday, September 24th. Finally, CIBC reissued a “hold” rating and issued a $81.00 price objective on shares of Bank of Nova Scotia in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $75.33.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Earnings History for Bank of Nova Scotia (NYSE:BNS)

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