Bank of Nova Scotia (TSE:BNS) Receives Consensus “Buy” Rating From Brokers

Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have been assigned an average rating of “buy” by the fourteen brokerages that currently cover the company, reports Three analysts rated the stock with a hold rating and six gave the company a buy rating. The 1-year average target price among analysts who have rated the stock over the past year is C$90.33.

Several brokerages have recently weighed in on BNS. TD Securities raised its target price on Bank of Nova Scotia shares from C$90.00 to C$95.00 and gave the company a “buy” rating in a Wednesday research note 1st December. CIBC raised its price target on Bank of Nova Scotia shares from C$90.00 to C$96.00 in a Monday, November 22 research note. Barclays raised its price target on Bank of Nova Scotia shares from C$84.00 to C$96.00 and gave the company an “equal weight” rating in a Wednesday 19 research note. January. Veritas Investment Research moved Bank of Nova Scotia shares from a “cut” rating to a “buy” rating in a Friday, November 12 research note. Finally, Canaccord Genuity Group raised its price target on Bank of Nova Scotia shares from C$89.00 to C$96.00 and assigned the stock a “buy” rating in a research note from Wednesday, January 5.

BNS stock opened at C$90.33 on Monday. The Bank of Nova Scotia has a 52-week low of C$67.90 and a 52-week high of C$93.34. The company has a fifty-day simple moving average of C$88.03 and a two-hundred-day simple moving average of C$82.55. The company has a market capitalization of C$109.81 billion and a P/E ratio of 11.73.

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last reported results on Tuesday, November 30. The bank reported earnings per share of C$2.10 for the quarter, beating Thomson Reuters consensus estimate of C$1.93 by C$0.17. The company posted revenue of C$7.69 billion in the quarter, while analysts had expected C$7.80 billion. Research analysts expect Bank of Nova Scotia to post EPS of 8.7499998 for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Thursday, January 27. Shareholders of record on Tuesday, January 4 received a dividend of $1.00 per share. This represents an annualized dividend of $4.00 and a yield of 4.43%. This is a boost from the Bank of Nova Scotia’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, December 31. The Bank of Nova Scotia’s dividend payout ratio is currently 46.75%.

About The Bank of Nova Scotia

The Bank of Nova Scotia offers a variety of banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, as well as internationally. It operates through Canadian Banking, International Banking, Global Banking and Markets and Global Wealth Management segments.

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

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