Cormark Has Bearish Forecast for BNS FY2025 Earnings

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Equities research analysts at Cormark reduced their FY2025 earnings per share (EPS) estimates for Bank of Nova Scotia in a report issued on Wednesday, February 26th. Cormark analyst L. Persaud now forecasts that the bank will post earnings of $4.85 per share for the year, down from their prior forecast of $4.94. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.91 per share. Cormark also issued estimates for Bank of Nova Scotia’s FY2026 earnings at $5.57 EPS.

Several other research firms also recently weighed in on BNS. Royal Bank of Canada reduced their price target on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating for the company in a research report on Wednesday. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 19th. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Bank of Nova Scotia presently has a consensus rating of “Hold” and a consensus target price of $75.50.

Bank of Nova Scotia Stock Performance

BNS opened at $49.68 on Thursday. The firm’s fifty day simple moving average is $51.72 and its two-hundred day simple moving average is $52.35. Bank of Nova Scotia has a 52-week low of $43.67 and a 52-week high of $57.07. The company has a market cap of $61.87 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.16 and a beta of 1.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 5.97%. Bank of Nova Scotia’s payout ratio is 68.06%.

Hedge Funds Weigh In On Bank of Nova Scotia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp purchased a new position in shares of Bank of Nova Scotia during the 4th quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Bank of Nova Scotia during the fourth quarter worth about $31,000. Allworth Financial LP raised its stake in Bank of Nova Scotia by 121.1% during the fourth quarter. Allworth Financial LP now owns 639 shares of the bank’s stock worth $33,000 after purchasing an additional 350 shares during the period. BNP Paribas Financial Markets boosted its holdings in Bank of Nova Scotia by 1,588.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after purchasing an additional 810 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Bank of Nova Scotia in the 4th quarter valued at approximately $73,000. Institutional investors and hedge funds own 49.13% of the company’s stock.

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.