Bank of Nova Scotia (TSE:BNS) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have received a consensus rating of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$84.82.

Several equities research analysts recently issued reports on BNS shares. Barclays PLC raised their target price on shares of Bank of Nova Scotia from C$84.00 to C$86.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a C$86.00 target price on shares of Bank of Nova Scotia in a research report on Tuesday, April 18th. Finally, Scotiabank raised their target price on shares of Bank of Nova Scotia from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 31st.

Shares of Bank of Nova Scotia (TSE BNS) traded down 0.78% during midday trading on Tuesday, hitting $77.47. 1,719,490 shares of the stock were exchanged. The stock has a market cap of $93.12 billion and a price-to-earnings ratio of 13.43. The firm’s 50-day moving average is $78.27 and its 200-day moving average is $77.89. Bank of Nova Scotia has a 12 month low of $65.09 and a 12 month high of $82.30.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings results on Tuesday, May 30th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.07. Bank of Nova Scotia had a net margin of 31.32% and a return on equity of 14.58%. The company had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Equities research analysts predict that Bank of Nova Scotia will post $6.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Stockholders of record on Tuesday, July 4th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.92%.

In other news, Director Brian J. Porter acquired 1,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were bought at an average price of C$77.74 per share, for a total transaction of C$77,740.00.

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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.

Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

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