Bank of Nova Scotia (TSE:BNS) Rating Reaffirmed
They currently have a $72 target price on Bank of Nova Scotia (TSE:BNS). The target price by RBC Capital Mkts would suggest a potential upside of 18.36% from the company’s stock close price. This has been released in a note on Wednesday, 2 December.
From a total of 16 analysts covering Bank of Nova Scotia (TSE:BNS) stock, 5 rate it a ”Buy”, 2 a “Sell”, and 10 a ”Hold”. This means that 29% of the ratings are positive. The highest target price is $54.59 while the lowest target price is $44.12. The mean of all analyst targets is $50.06 with a 11.18% above today’s ($60.83) stock price. Bank of Nova Scotia was the topic of 11 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. KBW maintained shares on August 18 with “Market Perform” rating.
The stock decreased 0.10% or $0.06 on December 1, striking $60.83. Approximately 2.86 million shares of stock traded hands or 61.58% up from the average. Bank of Nova Scotia (TSE:BNS) has declined 9.59% since April 29, 2015 and is downtrending. It has underperformed by 9.39% the S&P500.
Analysts await Bank of Nova Scotia (NYSE:BNS) to reports earnings on December, 4. They expect $1.10 earnings per share, down 5.17% or $0.06 from last year’s $1.16 per share. BNS’s profit will be $1.32 billion for 10.34 P/E if the $1.10 EPS becomes reality. After $1.18 actual earnings per share reported by Bank of Nova Scotia for the previous quarter, Wall Street now forecasts -6.78% negative EPS growth.
The Bank of Nova Scotia is a Canada diversified financial institution. The company has a market cap of $73.10 billion. The Bank offered a range of services and products, including retail, commercial, corporate and investment banking to more than 21 million clients in more than 55 countries around the world. It has 11.43 P/E ratio. The Bank has four business lines: Canadian Banking, International Banking, Scotia Capital and Global Wealth Management.
According to Zacks Investment Research, “Bank of Nova Scotia is one of North America’s premier financial institutions and Canada’s most international bank. They offer a diverse range of products and services including personal, commercial, corporate and investment banking. Scotiabank has built long-term value and recorded consistent earnings growth by building on its core strengths and by executing exceptionally well in its core businesses. These include Domestic Banking, Wealth Management, International Banking and Scotia Capital.” Get a free copy of the Zacks research report on Bank of Nova Scotia (BNS).