What is Cormark’s Forecast for BNS Q4 Earnings?

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Analysts at Cormark issued their Q4 2024 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud forecasts that the bank will post earnings per share of $1.17 for the quarter. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.52 per share. Cormark also issued estimates for Bank of Nova Scotia’s FY2025 earnings at $5.08 EPS.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 27th. The bank reported $1.63 EPS for the quarter, beating the consensus estimate of $1.62 by $0.01. The company had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.53 billion. Bank of Nova Scotia had a net margin of 9.84% and a return on equity of 11.14%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 EPS.

Several other research firms have also weighed in on BNS. Cibc World Mkts raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a report on Friday, September 20th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Finally, UBS Group upgraded shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Bank of Nova Scotia Trading Up 0.9 %

Shares of BNS stock opened at $56.72 on Wednesday. The company has a market capitalization of $70.58 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.52 and a beta of 1.05. Bank of Nova Scotia has a 12-month low of $41.80 and a 12-month high of $56.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $53.72 and a 200 day moving average price of $49.65.

Hedge Funds Weigh In On Bank of Nova Scotia

Several hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in shares of Bank of Nova Scotia by 1,388.9% in the 2nd quarter. Mather Group LLC. now owns 536 shares of the bank’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. lifted its holdings in Bank of Nova Scotia by 3,127.8% in the second quarter. Blue Trust Inc. now owns 581 shares of the bank’s stock valued at $27,000 after buying an additional 563 shares during the period. BNP Paribas Financial Markets boosted its stake in Bank of Nova Scotia by 1,588.2% in the third quarter. BNP Paribas Financial Markets now owns 861 shares of the bank’s stock valued at $47,000 after acquiring an additional 810 shares during the last quarter. City State Bank acquired a new stake in Bank of Nova Scotia during the 3rd quarter worth $57,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Bank of Nova Scotia by 102.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the bank’s stock valued at $83,000 after acquiring an additional 811 shares during the last quarter. Institutional investors own 49.13% of the company’s stock.

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.