Bank of Nova Scotia (TSE:BNS) PT Lowered to C$79.00

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its target price cut by Eight Capital from C$86.00 to C$79.00 in a research note published on Wednesday, BayStreet.CA reports.

Other analysts also recently issued research reports about the stock. CIBC decreased their price objective on shares of Bank of Nova Scotia from C$81.00 to C$77.00 in a report on Wednesday, May 29th. TD Securities decreased their price objective on shares of Bank of Nova Scotia from C$80.00 to C$77.00 and set a hold rating on the stock in a report on Wednesday, May 29th. BMO Capital Markets decreased their price objective on shares of Bank of Nova Scotia from C$82.00 to C$80.00 and set an outperform rating on the stock in a report on Wednesday, May 29th. Citigroup cut their target price on shares of Bank of Nova Scotia from C$93.00 to C$85.00 in a research report on Thursday, June 27th. Finally, Canaccord Genuity cut their target price on shares of Bank of Nova Scotia from C$76.00 to C$74.00 in a research report on Wednesday, May 15th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Bank of Nova Scotia presently has a consensus rating of Hold and an average target price of C$79.64.

BNS stock traded down C$0.08 during trading on Wednesday, reaching C$67.63. 303,480 shares of the company were exchanged, compared to its average volume of 2,556,207. The stock has a market cap of $83.47 billion and a P/E ratio of 10.07. Bank of Nova Scotia has a 52-week low of C$66.36 and a 52-week high of C$78.60. The firm’s 50 day moving average is C$69.98.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last released its quarterly earnings data on Tuesday, May 28th. The bank reported C$1.70 EPS for the quarter, missing analysts’ consensus estimates of C$1.74 by C($0.04). The company had revenue of C$7.80 billion for the quarter, compared to analysts’ expectations of C$7.86 billion. On average, sell-side analysts anticipate that Bank of Nova Scotia will post 7.6199998 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Tuesday, July 2nd were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Friday, June 28th. Bank of Nova Scotia’s payout ratio is currently 50.60%.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in North America, Latin America, the Caribbean and Central America, and the Asia-Pacific. The company offers financial advice and solutions, and day-to-day banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and related creditor insurance to individuals and small businesses; and commercial banking solutions comprising lending, deposit, cash management, and trade finance solutions to medium and large businesses, including automotive dealers and their customers.

Featured Story: Intrinsic Value

Analyst Recommendations for Bank of Nova Scotia (TSE:BNS)

Receive News & Ratings for Bank of Nova Scotia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Nova Scotia and related companies with MarketBeat.com's FREE daily email newsletter.