National Bank Financial Comments on The Bank of Nova Scotia’s Q3 2024 Earnings (TSE:BNS)

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – National Bank Financial decreased their Q3 2024 earnings per share estimates for Bank of Nova Scotia in a report released on Monday, August 12th. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings of $1.65 per share for the quarter, down from their prior estimate of $1.66. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $6.48 per share. National Bank Financial also issued estimates for Bank of Nova Scotia’s FY2025 earnings at $6.89 EPS.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last announced its quarterly earnings data on Tuesday, May 28th. The bank reported C$1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.55 by C$0.03. The business had revenue of C$8.35 billion during the quarter, compared to analysts’ expectations of C$8.32 billion. Bank of Nova Scotia had a return on equity of 9.89% and a net margin of 26.41%.

A number of other analysts have also commented on the company. CIBC lifted their target price on Bank of Nova Scotia from C$64.00 to C$68.00 and gave the stock a “neutral” rating in a report on Wednesday, May 29th. TD Securities lifted their price objective on Bank of Nova Scotia from C$68.00 to C$69.00 in a report on Thursday, August 8th. Canaccord Genuity Group lifted their price objective on Bank of Nova Scotia from C$70.00 to C$71.00 and gave the stock a “hold” rating in a report on Wednesday, May 29th. National Bankshares cut their price objective on Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating for the company in a report on Wednesday, May 29th. Finally, Jefferies Financial Group boosted their price target on Bank of Nova Scotia from C$64.00 to C$65.00 and gave the company a “hold” rating in a report on Monday. One analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$66.57.

Bank of Nova Scotia Trading Up 1.2 %

Bank of Nova Scotia stock opened at C$63.82 on Wednesday. The firm has a market cap of C$78.50 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 1.33 and a beta of 0.98. The stock has a fifty day simple moving average of C$63.30 and a two-hundred day simple moving average of C$64.70. Bank of Nova Scotia has a 12 month low of C$55.20 and a 12 month high of C$70.40.

Bank of Nova Scotia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Monday, July 29th were given a $1.06 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $4.24 annualized dividend and a dividend yield of 6.64%. Bank of Nova Scotia’s payout ratio is 69.97%.

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.