close
close

Brokers forecast Bank of Nova Scotia's Q2 2024 earnings (NYSE:BNS)

0


The Bank of Nova Scotia (NYSE:BNS – Free Report) (TSE:BNS) – Research analysts at Cormark issued their Q2 2024 earnings per share (EPS) estimates for The Bank of Nova Scotia in a note to investors on Wednesday, May 22. Cormark analyst L. Persaud expects the bank to report earnings per share of $1.13 for the quarter. The consensus estimate for Bank of Nova Scotia's current full year earnings is $4.90 per share. Cormark also issued estimates for Bank of Nova Scotia's fiscal year 2024 earnings of $4.87 per share and fiscal year 2025 earnings of $5.19 per share.

Bank of Nova Scotia (NYSE:BNS – Get Free Report) (TSE:BNS) last released its quarterly earnings results on Tuesday, February 27. The bank reported earnings per share (EPS) of $1.25 for the quarter, beating analysts' consensus estimates of $1.19 by $0.06. Bank of Nova Scotia had a return on equity of 11.51% and a net margin of 10.71%. The company posted revenue of $14.13 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same period last year, the company posted earnings per share of $1.37.

BNS has been the subject of a number of other reports. Barclays began coverage on Bank of Nova Scotia in a research report on Wednesday, March 20. They issued an “underweight” rating and a $70.00 price target for the company. Jefferies Financial Group began coverage on Bank of Nova Scotia in a report on Thursday, February 22. They issued a “hold” rating to the company. One equities research analyst has rated the stock with a sell rating and four have given the stock a “hold” rating. According to MarketBeat, the stock has a consensus rating of “hold” and a consensus price target of $68.00.

Check out our latest stock analysis on Bank of Nova Scotia

Price development of the Bank of Nova Scotia

Shares of BNS opened at $47.77 on Friday. Bank of Nova Scotia has a 1-year low of $39.79 and a 1-year high of $51.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $58.74 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.82 and a beta of 1.06. The company has a 50-day moving average of $48.43 and a 200-day moving average of $47.18.

Institutional investors comment on the Bank of Nova Scotia

Several hedge funds and other institutional investors have recently changed their holdings in BNS. Norges Bank acquired a new stake in shares of Bank of Nova Scotia in the fourth quarter valued at approximately $652,409,000. TD Asset Management Inc. increased its holdings in Bank of Nova Scotia by 23.2% in the fourth quarter. TD Asset Management Inc. now owns 19,841,901 shares of the bank's stock valued at $970,577,000 after buying an additional 3,731,541 shares in the last quarter. Sprott Inc. acquired a new stake in Bank of Nova Scotia in the third quarter valued at $146,907,000. Clearbridge Investments LLC acquired a new stake in Bank of Nova Scotia in the fourth quarter valued at $114,447,000. Finally, 1832 Asset Management LP increased its holdings in Bank of Nova Scotia by 16.1% in the first quarter. 1832 Asset Management LP now owns 17,015,877 shares of the bank's stock valued at $881,082,000 after purchasing an additional 2,361,136 shares during the last quarter. Institutional investors own 49.13% of the company's stock.

Bank of Nova Scotia increases dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26. Shareholders of record on Tuesday, April 2 were paid a dividend of $0.7843. This is an increase from Bank of Nova Scotia's previous quarterly dividend of $0.78. This represents an annualized dividend of $3.14 and a yield of 6.57%. The ex-dividend date of this dividend was Monday, April 1. Bank of Nova Scotia's payout ratio is currently 69.47%.

Bank of Nova Scotia Company Profile

(Get free report)

The Bank of Nova Scotia offers a variety of 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 business segments.

More stories

Earnings history and estimates for Bank of Nova Scotia (NYSE:BNS)



Get daily news and reviews on Bank of Nova Scotia – Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.