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

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

Bank of Nova Scotia Price Performance

Shares of NYSE:BNS traded up $0.43 on Thursday, reaching $49.34. 515,550 shares of the company traded hands, compared to its average volume of 1,843,490. Bank of Nova Scotia has a fifty-two week low of $39.79 and a fifty-two week high of $51.98. The company’s 50 day moving average is $46.32 and its 200-day moving average is $47.51. The stock has a market capitalization of $60.67 billion, a PE ratio of 11.02, a P/E/G ratio of 1.70 and a beta of 1.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Nova Scotia Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.768 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $3.07 dividend on an annualized basis and a dividend yield of 6.23%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 69.59%.

Analysts Set New Price Targets

BNS has been the subject of a number of research analyst reports. UBS Group initiated coverage on Bank of Nova Scotia in a research report on Tuesday, July 2nd. They issued a “neutral” rating for the company. StockNews.com downgraded Bank of Nova Scotia from a “hold” rating to a “sell” rating in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $68.00.

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.