The Bank of Nova Scotia (TSE:BNS) Receives Consensus Rating of “Reduce” from Analysts

Shares of The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have earned a consensus rating of “Reduce” from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$66.57.

A number of analysts have recently issued reports on BNS shares. CIBC lifted their price target on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the company a “neutral” rating in a research report on Wednesday, May 29th. Canaccord Genuity Group lifted their price target on Bank of Nova Scotia from C$70.00 to C$71.00 and gave the company a “hold” rating in a research report on Wednesday, May 29th. National Bankshares dropped their price target on Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 29th. Royal Bank of Canada dropped their price target on Bank of Nova Scotia from C$64.00 to C$62.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 29th. Finally, Jefferies Financial Group boosted their target price on Bank of Nova Scotia from C$64.00 to C$65.00 and gave the stock a “hold” rating in a research report on Monday, August 12th.

Bank of Nova Scotia Stock Up 0.7 %

Shares of TSE BNS opened at C$64.96 on Tuesday. Bank of Nova Scotia has a 52 week low of C$55.20 and a 52 week high of C$70.40. The business has a 50-day simple moving average of C$63.32 and a two-hundred day simple moving average of C$64.75. The company has a market cap of C$79.90 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.33 and a beta of 0.96.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its quarterly earnings results on Tuesday, May 28th. The bank reported C$1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.55 by C$0.03. The firm had revenue of C$8.35 billion during the quarter, compared to the consensus estimate of C$8.32 billion. Bank of Nova Scotia had a return on equity of 9.91% and a net margin of 26.43%. Equities research analysts anticipate that Bank of Nova Scotia will post 7.0108696 EPS for the current year.

Bank of Nova Scotia Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Monday, July 29th were issued a $1.06 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $4.24 annualized dividend and a yield of 6.53%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 70.55%.

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.