The Bank of Nova Scotia (TSE:BNS) Receives C$74.75 Average Price Target from Analysts

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$75.82.

A number of equities research analysts have weighed in on BNS shares. TD Securities raised their price objective on Bank of Nova Scotia from C$80.00 to C$82.00 in a research note on Friday, November 15th. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and upped their price target for the company from C$71.00 to C$84.00 in a report on Tuesday, November 19th. UBS Group raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Jefferies Financial Group upped their target price on shares of Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Cormark lowered their price objective on Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating for the company in a report on Tuesday, August 20th.

Bank of Nova Scotia Trading Up 0.1 %

TSE BNS opened at C$78.99 on Thursday. The stock has a market cap of C$97.95 billion, a P/E ratio of 13.83, a PEG ratio of 1.33 and a beta of 0.97. The company’s fifty day simple moving average is C$73.64 and its 200-day simple moving average is C$67.72. Bank of Nova Scotia has a 52 week low of C$56.83 and a 52 week high of C$79.38.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, meeting analysts’ consensus estimates of C$1.63. The company had revenue of C$8.36 billion during the quarter, compared to analysts’ expectations of C$8.50 billion. Bank of Nova Scotia had a net margin of 25.38% and a return on equity of 9.49%. On average, research analysts expect that Bank of Nova Scotia will post 7.1286267 EPS for the current fiscal year.

Bank of Nova Scotia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd were issued a dividend of $1.06 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.37%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 74.26%.

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.