Bank of Nova Scotia (NYSE:BNS) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) posted its earnings results on Tuesday. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.01, Briefing.com reports. The company had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share.

Bank of Nova Scotia Stock Down 2.1 %

BNS opened at $48.92 on Thursday. The business’s 50-day simple moving average is $46.32 and its 200-day simple moving average is $47.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Nova Scotia has a one year low of $39.79 and a one year high of $51.98. The stock has a market capitalization of $60.14 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.04.

Bank of Nova Scotia Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.768 per share. This represents a $3.07 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s dividend payout ratio (DPR) is currently 69.59%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BNS shares. UBS Group started coverage on Bank of Nova Scotia in a research report 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 research report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.00.

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.