FY2024 Earnings Estimate for TSE:BNS Issued By Desjardins

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Research analysts at Desjardins raised their FY2024 earnings estimates for shares of Bank of Nova Scotia in a research report issued on Friday, November 1st. Desjardins analyst D. Young now anticipates that the bank will post earnings of $6.49 per share for the year, up from their previous forecast of $6.45. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $7.13 per share. Desjardins also issued estimates for Bank of Nova Scotia’s FY2025 earnings at $7.15 EPS and FY2026 earnings at $8.10 EPS.

A number of other research firms also recently weighed in on BNS. BMO Capital Markets dropped their price target on shares of Bank of Nova Scotia from C$74.00 to C$72.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. Royal Bank of Canada upped their price target on shares of Bank of Nova Scotia from C$62.00 to C$65.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. TD Securities raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and upped their price target for the stock from C$71.00 to C$80.00 in a research note on Monday. Cormark dropped their price target on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 20th. Finally, Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Ten equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$69.00.

Bank of Nova Scotia Trading Up 1.8 %

TSE BNS opened at C$73.74 on Monday. Bank of Nova Scotia has a 1-year low of C$56.83 and a 1-year high of C$74.77. The company has a market capitalization of C$91.44 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. The firm’s fifty day simple moving average is C$70.99 and its 200-day simple moving average is C$66.42.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$1.63. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. The company had revenue of C$8.36 billion for the quarter, compared to the consensus estimate of C$8.50 billion.

Bank of Nova Scotia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd were issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend was Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is 74.26%.

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.