Bank of Nova Scotia (NYSE:BNS) Issues Earnings Results

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) posted its quarterly earnings data on Tuesday. The bank reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock traded up $0.43 during mid-day trading on Thursday, hitting $49.34. 515,550 shares of the company were exchanged, compared to its average volume of 1,843,490. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day simple moving average is $46.32 and its two-hundred day simple moving average is $47.51. The company has a market capitalization of $60.67 billion, a P/E ratio of 11.02, a PEG ratio of 1.70 and a beta of 1.04. Bank of Nova Scotia has a 12-month low of $39.79 and a 12-month high of $51.98.

Bank of Nova Scotia Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.768 per share. This represents a $3.07 annualized dividend and a yield of 6.23%. The ex-dividend date is Wednesday, October 2nd. Bank of Nova Scotia’s payout ratio is 69.59%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BNS. UBS Group began coverage on Bank of Nova Scotia in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.00.

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.