Q3 2017 Earnings Forecast for Bank of Nova Scotia Issued By Cormark (BNS)
Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Research analysts at Cormark boosted their Q3 2017 EPS estimates for shares of Bank of Nova Scotia in a research note issued on Wednesday. Cormark analyst M. Grauman now anticipates that the bank will post earnings per share of $1.68 for the quarter, up from their prior estimate of $1.66. Cormark also issued estimates for Bank of Nova Scotia’s Q4 2017 earnings at $1.71 EPS, FY2017 earnings at $6.61 EPS, Q1 2018 earnings at $1.75 EPS, Q2 2018 earnings at $1.72 EPS, Q3 2018 earnings at $1.83 EPS, Q4 2018 earnings at $1.85 EPS and FY2018 earnings at $7.15 EPS.
Bank of Nova Scotia (TSE:BNS) last posted its quarterly earnings data on Tuesday, May 30th. The bank reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.07. The firm had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.61 billion.
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A number of other research analysts have also recently commented on BNS. Barclays PLC upped their price target on Bank of Nova Scotia from C$68.00 to C$73.00 in a research report on Monday, February 13th. CIBC increased their price objective on Bank of Nova Scotia from C$82.00 to C$83.00 in a report on Wednesday, February 15th. Keefe, Bruyette & Woods increased their price objective on Bank of Nova Scotia from C$77.00 to C$85.00 in a report on Tuesday, February 21st. National Bank Financial reissued an “outperform” rating on shares of Bank of Nova Scotia in a report on Monday, February 20th. Finally, Desjardins increased their price objective on Bank of Nova Scotia from C$83.00 to C$86.00 and gave the stock a “buy” rating in a report on Wednesday, March 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of C$84.00.
Bank of Nova Scotia (BNS) opened at 76.68 on Friday. Bank of Nova Scotia has a 12 month low of $62.36 and a 12 month high of $82.30. The company has a 50 day moving average price of $76.15 and a 200-day moving average price of $76.97. The company has a market cap of $92.64 billion and a PE ratio of 12.19.
In related news, insider Kyle Mcnamara sold 4,280 shares of the stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of C$78.75, for a total transaction of C$337,050.00. Also, insider Andrew Branion sold 10,252 shares of the company’s stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of C$78.66, for a total value of C$806,422.32. Insiders have sold a total of 54,532 shares of company stock worth $4,352,272 in the last three months.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Tuesday, July 4th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.96%.
About Bank of Nova Scotia
The Bank of Nova Scotia is an international bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
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