National Bank Financial Comments on The Bank of Nova Scotia’s Q3 2024 Earnings (TSE:BNS)

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Stock analysts at National Bank Financial decreased their Q3 2024 earnings estimates for shares of Bank of Nova Scotia in a research report issued to clients and investors on Monday, August 12th. National Bank Financial analyst G. Dechaine now anticipates that the bank will earn $1.65 per share for the quarter, down from their previous estimate of $1.66. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $6.48 per share. National Bank Financial also issued estimates for Bank of Nova Scotia’s FY2025 earnings at $6.89 EPS.

Other analysts also recently issued reports about the stock. Jefferies Financial Group increased their price target on shares of Bank of Nova Scotia from C$64.00 to C$65.00 and gave the company a “hold” rating in a report on Monday. TD Securities increased their price target on shares of Bank of Nova Scotia from C$68.00 to C$69.00 in a report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of Bank of Nova Scotia from C$64.00 to C$62.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 29th. UBS Group set a C$67.00 price objective on shares of Bank of Nova Scotia and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Canaccord Genuity Group increased their price objective on shares of Bank of Nova Scotia from C$70.00 to C$71.00 and gave the company a “hold” rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has an average rating of “Hold” and an average price target of C$66.57.

Bank of Nova Scotia Price Performance

Shares of Bank of Nova Scotia stock opened at C$63.82 on Wednesday. Bank of Nova Scotia has a fifty-two week low of C$55.20 and a fifty-two week high of C$70.40. The firm has a fifty day moving average price of C$63.30 and a two-hundred day moving average price of C$64.70. The company has a market cap of C$78.50 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.98.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its quarterly earnings data on Tuesday, May 28th. The bank reported C$1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.55 by C$0.03. Bank of Nova Scotia had a net margin of 26.41% and a return on equity of 9.89%. The business had revenue of C$8.35 billion during the quarter, compared to the consensus estimate of C$8.32 billion.

Bank of Nova Scotia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Monday, July 29th were given a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 6.64%. The ex-dividend date was Wednesday, July 3rd. Bank of Nova Scotia’s payout ratio is presently 69.97%.

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.