Bank of Nova Scotia (NYSE:BNS – Get Free Report) (TSE:BNS) announced its quarterly earnings results on Tuesday. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.01, Briefing.com reports. Bank of Nova Scotia had a net margin of 10.40% and a return on equity of 11.40%. The firm had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The company’s revenue was up 3.7% compared to the same quarter last year.
Bank of Nova Scotia Stock Up 2.8 %
BNS opened at $49.96 on Wednesday. The company has a market cap of $61.43 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04. Bank of Nova Scotia has a twelve month low of $39.79 and a twelve month high of $51.98. The company has a 50-day moving average price of $46.24 and a 200 day moving average price of $47.49. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.57.
Analyst Ratings Changes
BNS has been the subject of several research reports. UBS Group started coverage on shares of Bank of Nova Scotia in a research note 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 research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.
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