Bank of Nova Scotia (NYSE:BNS) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) released its quarterly earnings results on Tuesday. The bank reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05, Zacks reports. Bank of Nova Scotia had a net margin of 10.20% and a return on equity of 11.56%.

Bank of Nova Scotia Stock Up 0.2 %

Shares of NYSE BNS opened at $50.60 on Tuesday. The stock has a 50-day moving average price of $51.95 and a two-hundred day moving average price of $52.36. Bank of Nova Scotia has a 12 month low of $43.67 and a 12 month high of $57.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market cap of $63.02 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.16 and a beta of 1.07.

Bank of Nova Scotia Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 7th were given a $0.7535 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date was Tuesday, January 7th. Bank of Nova Scotia’s dividend payout ratio is presently 68.06%.

Analyst Ratings Changes

Several brokerages have recently commented on BNS. Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. TD Securities upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, UBS Group raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $72.00.

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.