Cormark Analysts Increase Earnings Estimates for Bank of Nova Scotia (BNS)

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Equities researchers at Cormark increased their Q1 2019 earnings per share (EPS) estimates for Bank of Nova Scotia in a research note issued to investors on Tuesday. Cormark analyst M. Grauman now forecasts that the bank will earn $1.78 per share for the quarter, up from their previous forecast of $1.77. Cormark also issued estimates for Bank of Nova Scotia’s Q2 2019 earnings at $1.80 EPS, Q3 2019 earnings at $1.91 EPS and Q4 2019 earnings at $1.92 EPS.

BNS has been the subject of a number of other reports. Citigroup increased their price target on Bank of Nova Scotia from C$90.00 to C$93.00 in a research report on Friday, November 17th. Royal Bank Of Canada raised their target price on Bank of Nova Scotia from C$87.00 to C$91.00 and gave the company an “outperform” rating in a research report on Wednesday, November 29th. Canaccord Genuity raised their target price on Bank of Nova Scotia from C$88.00 to C$92.00 in a research report on Wednesday, November 1st. Scotiabank decreased their target price on Bank of Nova Scotia from C$95.00 to C$94.00 and set an “outperform” rating for the company in a research report on Wednesday, November 29th. Finally, CIBC raised their target price on Bank of Nova Scotia from C$85.00 to C$87.00 in a research report on Wednesday, August 30th. Eight research analysts have rated the stock with a buy rating, Bank of Nova Scotia has a consensus rating of “Buy” and a consensus price target of C$88.46.

Bank of Nova Scotia (TSE BNS) traded up C$0.97 during midday trading on Wednesday, reaching C$82.78. The company had a trading volume of 2,091,622 shares, compared to its average volume of 2,138,038. Bank of Nova Scotia has a twelve month low of C$73.31 and a twelve month high of C$85.50.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, December 29th. Bank of Nova Scotia’s dividend payout ratio is presently 47.00%.

In other news, insider Deborah Alexander sold 7,114 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of C$76.76, for a total transaction of C$546,070.64. Also, insider Barbara Frances Mason sold 20,000 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of C$82.60, for a total value of C$1,652,000.00. Over the last ninety days, insiders have sold 30,364 shares of company stock valued at $2,459,789.

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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.

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

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