Bank of Nova Scotia (BNS) to Post FY2019 Earnings of $7.43 Per Share, Desjardins Forecasts

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Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Stock analysts at Desjardins decreased their FY2019 earnings per share (EPS) estimates for Bank of Nova Scotia in a note issued to investors on Tuesday, November 6th. Desjardins analyst D. Young now forecasts that the bank will post earnings per share of $7.43 for the year, down from their previous forecast of $7.50. Desjardins also issued estimates for Bank of Nova Scotia’s FY2020 earnings at $7.83 EPS.

Other research analysts have also recently issued research reports about the stock. TD Securities cut their price objective on shares of Bank of Nova Scotia from C$95.00 to C$90.00 and set a “buy” rating for the company in a report on Wednesday, August 29th. National Bank Financial cut their price objective on shares of Bank of Nova Scotia from C$85.00 to C$81.00 and set a “sector perform” rating for the company in a report on Wednesday, August 29th. Finally, Eight Capital lifted their price objective on shares of Bank of Nova Scotia from C$93.00 to C$94.00 in a report on Wednesday, August 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Bank of Nova Scotia presently has a consensus rating of “Buy” and an average price target of C$88.33.

Shares of Bank of Nova Scotia stock opened at C$71.16 on Wednesday. Bank of Nova Scotia has a 1 year low of C$69.01 and a 1 year high of C$85.50.

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

The business also recently announced a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Tuesday, October 2nd were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, October 1st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.78%. This is a boost from Bank of Nova Scotia’s previous quarterly dividend of $0.82.

In related news, Director Nora Anne Aufreiter bought 1,500 shares of the business’s stock in a transaction dated Wednesday, September 26th. The stock was acquired at an average price of C$77.58 per share, with a total value of C$116,370.00. Also, Director Una Marie Power bought 3,283 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were bought at an average cost of C$76.19 per share, with a total value of C$250,131.77. Insiders have bought 13,312 shares of company stock valued at $1,006,223 in the last three months.

Bank of Nova Scotia Company Profile

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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