The Bank of Nova Scotia (TSE:BNS) Given Consensus Recommendation of “Reduce” by Brokerages

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has earned a consensus rating of “Reduce” from the thirteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and twelve have assigned a hold recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$66.68.

Several brokerages have recently commented on BNS. Desjardins increased their price target on shares of Bank of Nova Scotia from C$64.00 to C$68.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Jefferies Financial Group cut their target price on Bank of Nova Scotia from C$69.00 to C$64.00 and set a “hold” rating on the stock in a report on Thursday, June 6th. BMO Capital Markets upped their price target on Bank of Nova Scotia from C$69.00 to C$74.00 in a research note on Friday, April 5th. CIBC raised their price objective on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the company a “neutral” rating in a research note on Wednesday, May 29th. Finally, National Bankshares decreased their target price on Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 29th.

Bank of Nova Scotia Trading Down 0.3 %

Shares of TSE:BNS opened at C$61.83 on Monday. The firm has a market cap of C$76.05 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 1.33 and a beta of 0.98. Bank of Nova Scotia has a 1 year low of C$55.20 and a 1 year high of C$70.40. The business has a fifty day simple moving average of C$64.47 and a 200 day simple moving average of C$64.57.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings results on Tuesday, May 28th. The bank reported C$1.58 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.55 by C$0.03. The company had revenue of C$8.35 billion during the quarter, compared to the consensus estimate of C$8.32 billion. Bank of Nova Scotia had a return on equity of 9.89% and a net margin of 26.41%. On average, sell-side analysts forecast that Bank of Nova Scotia will post 6.4780876 EPS for the current year.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date of this dividend is Wednesday, July 3rd. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 69.97%.

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.