FY2019 EPS Estimates for Bank of Nova Scotia Raised by Desjardins (BNS)

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Analysts at Desjardins increased their FY2019 earnings per share estimates for Bank of Nova Scotia in a research report issued to clients and investors on Tuesday. Desjardins analyst D. Young now expects that the bank will post earnings per share of $7.40 for the year, up from their previous estimate of $7.34.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, November 28th. The bank reported C$1.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.68 by C($0.03). Bank of Nova Scotia had a net margin of 30.50% and a return on equity of 14.91%. The firm had revenue of C$6.81 billion during the quarter, compared to analyst estimates of C$7.05 billion. During the same period in the prior year, the company earned $1.58 EPS.

Several other analysts also recently commented on BNS. Citigroup raised their price objective on shares of Bank of Nova Scotia from C$90.00 to C$93.00 in a research report on Friday, November 17th. CIBC raised their price objective on shares of Bank of Nova Scotia from C$87.00 to C$93.00 in a research report on Monday, November 13th. Canaccord Genuity raised their price objective on shares of Bank of Nova Scotia from C$88.00 to C$92.00 in a research report on Wednesday, November 1st. BMO Capital Markets increased their target price on Bank of Nova Scotia from C$83.00 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday, August 30th. Finally, Royal Bank Of Canada increased their target price on Bank of Nova Scotia from C$87.00 to C$91.00 and gave the stock an “outperform” rating in a report on Wednesday, November 29th. Eight investment analysts have rated the stock with a buy rating, Bank of Nova Scotia has a consensus rating of “Buy” and a consensus price target of C$88.46.

Shares of Bank of Nova Scotia (TSE BNS) opened at C$83.60 on Friday. Bank of Nova Scotia has a 52-week low of C$73.31 and a 52-week high of C$85.50.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, December 29th. Bank of Nova Scotia’s payout ratio is 47.00%.

In other news, insider Kyle Mcnamara sold 3,036 shares of Bank of Nova Scotia stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of C$80.53, for a total transaction of C$244,489.08. Also, insider Barbara Frances Mason sold 20,000 shares of Bank of Nova Scotia stock in a transaction on Thursday, December 7th. The stock was sold at an average price of C$82.60, for a total value of C$1,652,000.00. Insiders have sold a total of 30,364 shares of company stock worth $2,459,789 over the last quarter.

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Bank of Nova Scotia Company Profile

The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

Earnings History and Estimates for Bank of Nova Scotia (TSE:BNS)

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