Bank of Nova Scotia (TSE:BNS) Price Target Raised to C$65.00 at Royal Bank of Canada

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target boosted by Royal Bank of Canada from C$62.00 to C$65.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price target suggests a potential downside of 1.47% from the company’s previous close.

Several other equities research analysts have also issued reports on BNS. UBS Group set a C$67.00 target price on shares of Bank of Nova Scotia and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Canaccord Genuity Group lifted their price objective on Bank of Nova Scotia from C$70.00 to C$71.00 and gave the stock a “hold” rating in a research report on Wednesday, May 29th. National Bankshares lowered their target price on Bank of Nova Scotia from C$67.00 to C$66.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 29th. TD Securities boosted their price objective on shares of Bank of Nova Scotia from C$69.00 to C$71.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, CIBC upped their price target on shares of Bank of Nova Scotia from C$64.00 to C$68.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. According to MarketBeat.com, Bank of Nova Scotia presently has an average rating of “Hold” and a consensus price target of C$67.07.

Bank of Nova Scotia Stock Performance

Shares of BNS stock traded down C$1.25 during trading hours on Wednesday, hitting C$65.97. 1,665,797 shares of the company were exchanged, compared to its average volume of 4,015,958. The firm has a market cap of C$81.14 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.33 and a beta of 0.96. The company has a 50 day simple moving average of C$63.41 and a two-hundred day simple moving average of C$64.83. Bank of Nova Scotia has a fifty-two week low of C$55.20 and a fifty-two week high of C$70.40.

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 analysts’ consensus estimates of C$1.55 by C$0.03. 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 had a net margin of 26.43% and a return on equity of 9.91%. As a group, sell-side analysts expect that Bank of Nova Scotia will post 7.0108696 EPS for the current fiscal year.

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.