Cormark Reduces Earnings Estimates for Bank of Nova Scotia

The Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) – Equities research analysts at Cormark decreased their FY2025 earnings per share (EPS) estimates for Bank of Nova Scotia in a note issued to investors on Wednesday, December 4th. Cormark analyst L. Persaud now anticipates that the bank will post earnings per share of $6.96 for the year, down from their previous forecast of $7.06. Cormark has a “Market Perform” rating and a $65.00 price target on the stock. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $7.13 per share.

BNS has been the subject of several other research reports. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating and raised their target price for the stock from C$71.00 to C$84.00 in a research note on Tuesday, November 19th. Barclays raised Bank of Nova Scotia from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 21st. Cibc World Mkts raised Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 20th. Jefferies Financial Group raised their price objective on Bank of Nova Scotia from C$65.00 to C$69.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Bank of America raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$73.00 to C$90.00 in a research note on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Bank of Nova Scotia has a consensus rating of “Moderate Buy” and an average price target of C$76.73.

Bank of Nova Scotia Price Performance

TSE BNS opened at C$78.29 on Friday. The business has a 50 day simple moving average of C$74.65 and a 200 day simple moving average of C$68.39. Bank of Nova Scotia has a one year low of C$59.62 and a one year high of C$80.14. The stock has a market capitalization of C$97.08 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.33 and a beta of 0.97.

Bank of Nova Scotia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 7th will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 5.42%. Bank of Nova Scotia’s dividend payout ratio is presently 74.26%.

About Bank of Nova Scotia

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.