FY2017 EPS Estimates for Bank of Nova Scotia Cut by Cormark (BNS)

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Stock analysts at Cormark lowered their FY2017 earnings per share (EPS) estimates for Bank of Nova Scotia in a research note issued to investors on Friday, Zacks Investment Research reports. Cormark analyst M. Grauman now anticipates that the bank will post earnings of $6.57 per share for the year, down from their prior estimate of $6.59. Cormark also issued estimates for Bank of Nova Scotia’s Q4 2017 earnings at $1.68 EPS and FY2019 earnings at $7.46 EPS.

Several other research analysts have also recently issued reports on the company. Citigroup increased their price objective on Bank of Nova Scotia from C$90.00 to C$93.00 in a research note on Friday, November 17th. National Bank Financial upped their target price on Bank of Nova Scotia from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a report on Wednesday, August 30th. Scotiabank lowered their target price on Bank of Nova Scotia from C$89.00 to C$88.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. CIBC upped their target price on Bank of Nova Scotia from C$87.00 to C$93.00 in a report on Monday, November 13th. Finally, BMO Capital Markets upped their target price on Bank of Nova Scotia from C$83.00 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday, August 30th. Eight research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of C$88.38.

Shares of Bank of Nova Scotia (TSE BNS) traded down C$0.48 during trading hours on Monday, reaching C$81.14. The company had a trading volume of 1,713,918 shares, compared to its average volume of 2,140,129. Bank of Nova Scotia has a 52 week low of C$73.31 and a 52 week high of C$85.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, November 28th. The bank reported C$1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.68 by C($0.03). Bank of Nova Scotia had a return on equity of 14.91% and a net margin of 30.50%. The firm had revenue of C$6.81 billion during the quarter, compared to the consensus estimate of C$7.05 billion. During the same period last year, the company earned $1.58 EPS.

In other news, insider Kyle Mcnamara sold 3,036 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of C$80.53, for a total transaction of C$244,489.08. Also, insider Deborah Alexander sold 7,114 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of C$76.76, for a total value of C$546,070.64. In the last quarter, insiders have sold 10,364 shares of company stock valued at $807,789.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.79 per share. The ex-dividend date is Friday, December 29th. This represents a $3.16 annualized dividend and a dividend yield of 3.89%. Bank of Nova Scotia’s dividend payout ratio is presently 47.00%.

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About Bank of Nova Scotia

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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Earnings History and Estimates for Bank of Nova Scotia (TSE:BNS)

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