The Bank of Nova Scotia (TSE:BNS) Receives C$68.25 Consensus Target Price from Analysts

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have been assigned a consensus rating of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$68.25.

A number of equities analysts have recently issued reports on BNS shares. BMO Capital Markets reduced their target price on shares of Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 28th. Royal Bank of Canada upped their target price on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. UBS Group set a C$67.00 target price on shares of Bank of Nova Scotia and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group upped their target price on shares of Bank of Nova Scotia from C$65.00 to C$69.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, CIBC upgraded shares of Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and increased their price objective for the company from C$78.00 to C$82.00 in a report on Friday, September 20th.

Bank of Nova Scotia Stock Up 0.7 %

TSE:BNS opened at C$72.01 on Wednesday. The firm has a market cap of C$89.29 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. Bank of Nova Scotia has a 12 month low of C$55.20 and a 12 month high of C$74.25. The company’s 50-day moving average price is C$67.61 and its two-hundred day moving average price is C$65.83.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of C$8.50 billion. On average, research analysts expect that Bank of Nova Scotia will post 6.9630682 EPS for the current fiscal year.

Bank of Nova Scotia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 29th will be paid a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is presently 74.26%.

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.