Bank of Nova Scotia (NYSE:BNS) Issues Earnings Results, Beats Expectations By $0.01 EPS

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) issued its quarterly earnings results on Tuesday. The bank reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.01, Briefing.com reports. Bank of Nova Scotia had a return on equity of 11.40% and a net margin of 10.40%. The firm had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year.

Bank of Nova Scotia Stock Up 2.8 %

Shares of NYSE:BNS opened at $49.96 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $61.43 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 1.70 and a beta of 1.04. The company has a 50 day moving average of $46.24 and a 200-day moving average of $47.49. Bank of Nova Scotia has a one year low of $39.79 and a one year high of $51.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BNS shares. UBS Group started coverage on Bank of Nova Scotia in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. StockNews.com cut Bank of Nova Scotia from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.00.

Bank of Nova Scotia Company Profile

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.