Desjardins Research Analysts Reduce Earnings Estimates for Bank of Nova Scotia (BNS)

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Analysts at Desjardins lowered their FY2018 EPS estimates for Bank of Nova Scotia in a note issued to investors on Tuesday, November 6th. Desjardins analyst D. Young now anticipates that the bank will post earnings per share of $6.94 for the year, down from their prior estimate of $7.00. Desjardins also issued estimates for Bank of Nova Scotia’s Q4 2018 earnings at $1.75 EPS.

A number of other analysts have also issued reports on the stock. Eight Capital lifted their price objective on shares of Bank of Nova Scotia from C$93.00 to C$94.00 in a research note on Wednesday, August 29th. TD Securities dropped their price objective on shares of Bank of Nova Scotia from C$95.00 to C$90.00 and set a “buy” rating on the stock in a research note on Wednesday, August 29th. Finally, National Bank Financial dropped their price objective on shares of Bank of Nova Scotia from C$85.00 to C$81.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of C$88.33.

BNS opened at C$71.50 on Thursday. Bank of Nova Scotia has a 52-week low of C$69.01 and a 52-week high of C$85.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, August 28th. The bank reported C$1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.78 by C($0.02). The firm had revenue of C$7.18 billion for the quarter, compared to the consensus estimate of C$7.25 billion.

In related news, Director Una Marie Power purchased 3,283 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was acquired at an average price of C$76.19 per share, for a total transaction of C$250,131.77. Also, Director Aaron William Regent purchased 3,300 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was bought at an average price of C$74.87 per share, with a total value of C$247,071.00. In the last 90 days, insiders purchased 13,312 shares of company stock valued at $1,006,223.

The business also recently declared a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Tuesday, October 2nd were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Monday, October 1st. This is a positive change from Bank of Nova Scotia’s previous quarterly dividend of $0.82.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various financial services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. It offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

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Earnings History and Estimates for Bank of Nova Scotia (TSE:BNS)

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