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

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

Bank of Nova Scotia Stock Performance

Shares of BNS opened at $49.96 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.57. The stock has a market cap of $61.43 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.70 and a beta of 1.04. The business’s 50 day moving average price is $46.24 and its 200-day moving average price is $47.49. Bank of Nova Scotia has a 52 week low of $39.79 and a 52 week high of $51.98.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group initiated coverage on shares of 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 research note on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.