Bank of Nova Scotia (TSE:BNS) Stock Rating Upgraded by Barclays

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was upgraded by stock analysts at Barclays from a “strong sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. TD Securities raised their target price on shares of Bank of Nova Scotia from C$80.00 to C$82.00 in a report on Friday, November 15th. Cormark cut their price target on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Jefferies Financial Group lifted their price target on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating and lifted their price target for the company from C$71.00 to C$84.00 in a report on Tuesday. Finally, National Bankshares lifted their price target on Bank of Nova Scotia from C$66.00 to C$78.00 in a report on Wednesday. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$74.75.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at C$78.91 on Thursday. The business has a 50-day moving average of C$73.46 and a 200-day moving average of C$67.61. The company has a market capitalization of C$97.85 billion, a PE ratio of 13.82, a P/E/G ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 1-year low of C$56.83 and a 1-year high of C$79.16.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings results on Tuesday, August 27th. The bank reported C$1.63 EPS for the quarter, hitting analysts’ consensus estimates of C$1.63. The business had revenue of C$8.36 billion during the quarter, compared to the consensus estimate of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. On average, equities analysts expect that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

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.