Bank of Nova Scotia (NYSE:BNS) Issues Earnings Results

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) posted its earnings results on Tuesday. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.01, Briefing.com reports. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The business had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same quarter in the previous year, the firm earned $1.30 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year.

Bank of Nova Scotia Stock Performance

Shares of BNS stock opened at $49.22 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two week high of $51.98. The stock has a 50 day moving average price of $46.37 and a two-hundred day moving average price of $47.52. The company has a market capitalization of $60.52 billion, a P/E ratio of 11.09, a PEG ratio of 1.70 and a beta of 1.04.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Wednesday, October 2nd will be given a $0.768 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a yield of 6.24%. Bank of Nova Scotia’s payout ratio is 69.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BNS. UBS Group began coverage on Bank of Nova Scotia in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. StockNews.com lowered Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.00.

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.