Today, Bank of Nova Scotia (BNS) Releases Earnings Results, Beats Estimates By $0.45 EPS

Today, Bank of Nova Scotia (BNS) Releases  Earnings Results, Beats Estimates By $0.45 EPS

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) issued its quarterly earnings results on Tuesday. The company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.45. The company earned $6.75 billion during the quarter, compared to the consensus estimate of $6.64 billion. Bank of Nova Scotia had a return on equity of 14.04% and a net margin of 20.84%. During the same period last year, the company earned $1.45 earnings per share.

Shares of Bank of Nova Scotia (NYSE:BNS) opened at 53.94 on Tuesday. Bank of Nova Scotia has a 12 month low of $35.01 and a 12 month high of $55.14. The company’s 50-day moving average price is $53.41 and its 200-day moving average price is $51.72. The company has a market cap of $64.99 billion, a P/E ratio of 12.90 and a beta of 1.29.

A number of brokerages recently issued reports on BNS. Zacks Investment Research upgraded Bank of Nova Scotia from a “sell” rating to a “hold” rating in a research report on Friday. Credit Suisse Group AG restated a “neutral” rating on shares of Bank of Nova Scotia in a research report on Monday, November 14th. Bank of America Corp. began coverage on Bank of Nova Scotia in a research report on Tuesday, November 1st. They issued a “buy” rating for the company. Barclays PLC restated a “hold” rating on shares of Bank of Nova Scotia in a research report on Thursday, October 27th. Finally, Dundee Securities began coverage on Bank of Nova Scotia in a research report on Wednesday, September 21st. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $68.09.

Several institutional investors have recently made changes to their positions in BNS. Advisor Group Inc. acquired a new position in shares of Bank of Nova Scotia during the second quarter valued at approximately $120,000. Verition Fund Management LLC acquired a new position in shares of Bank of Nova Scotia during the third quarter valued at approximately $207,000. Advisor Partners LLC raised its position in shares of Bank of Nova Scotia by 1.6% in the second quarter. Advisor Partners LLC now owns 4,813 shares of the company’s stock valued at $235,000 after buying an additional 75 shares during the period. LPL Financial LLC raised its position in shares of Bank of Nova Scotia by 9.1% in the third quarter. LPL Financial LLC now owns 5,859 shares of the company’s stock valued at $308,000 after buying an additional 488 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Bank of Nova Scotia by 3.2% in the second quarter. Ameriprise Financial Inc. now owns 6,491 shares of the company’s stock valued at $318,000 after buying an additional 201 shares during the period. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Company Profile

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