Cormark Reduces Earnings Estimates for Bank of Nova Scotia

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Research analysts at Cormark decreased their FY2025 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a note issued to investors on Wednesday, December 4th. Cormark analyst L. Persaud now anticipates that the bank will post earnings of $6.96 per share for the year, down from their prior forecast of $7.06. Cormark currently has a “Market Perform” rating and a $65.00 price objective on the stock. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $7.13 per share.

A number of other research analysts also recently issued reports on the company. Jefferies Financial Group boosted their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$71.00 to C$84.00 in a research note on Tuesday, November 19th. UBS Group upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Finally, Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating and boosted their price objective for the company from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$76.73.

Bank of Nova Scotia Stock Up 0.8 %

Bank of Nova Scotia stock opened at C$78.94 on Friday. The business has a 50-day simple moving average of C$74.65 and a two-hundred day simple moving average of C$68.39. The company has a market cap of C$97.89 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 52-week low of C$59.62 and a 52-week high of C$80.14.

Bank of Nova Scotia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 5.37%. Bank of Nova Scotia’s dividend payout ratio (DPR) is 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.