Cormark Reduces Earnings Estimates for Bank of Nova Scotia

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Equities research analysts at Cormark reduced their FY2025 earnings per share (EPS) estimates for shares of Bank of Nova Scotia in a report issued on Wednesday, December 4th. Cormark analyst L. Persaud now anticipates that the bank will earn $6.96 per share for the year, down from their previous forecast of $7.06. Cormark currently has a “Market Perform” rating and a $65.00 price target on the stock. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $7.13 per share.

Several other brokerages also recently weighed in on BNS. Cibc World Mkts upgraded Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 20th. National Bankshares increased their target price on Bank of Nova Scotia from C$66.00 to C$78.00 in a research report on Wednesday, November 20th. Bank of America upgraded Bank of Nova Scotia from a “neutral” rating to a “buy” rating and increased their target price for the company from C$73.00 to C$90.00 in a research report on Tuesday, November 19th. Jefferies Financial Group increased their target price on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, BMO Capital Markets increased their target price on Bank of Nova Scotia from C$72.00 to C$84.00 in a research report on Monday, November 18th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Moderate Buy” and an average price target of C$76.73.

Bank of Nova Scotia Stock Up 0.6 %

Shares of BNS stock opened at C$78.29 on Friday. Bank of Nova Scotia has a twelve month low of C$59.62 and a twelve month high of C$80.14. The company has a market cap of C$97.08 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.33 and a beta of 0.97. The business has a fifty day simple moving average of C$74.65 and a 200 day simple moving average of C$68.39.

Bank of Nova Scotia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be paid a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 5.42%. Bank of Nova Scotia’s payout ratio is 74.26%.

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.