Bank Of Nova Scotia (NYSE:BNS) – Analysts See The Stock Differently Today

In today’s recent session, 3.22 million shares of the Bank Of Nova Scotia (NYSE:BNS) have been traded, and its beta is 1.02. Most recently the company’s share price was $50.47, and it changed around -$1.31 or -2.53% from the last close, which brings the market valuation of the company to $61.68B. BNS at last check was trading at a discount to its 52-week high of $51.98, offering almost -2.99% off that amount. The share price’s 52-week low was $39.79, which indicates that the recent value has risen by an impressive 21.16% since then. We note from Bank Of Nova Scotia’s average daily trading volume that its 10-day average is 1.64 million shares, with the 3-month average coming to 2.12 million.

Bank Of Nova Scotia stock received a consensus recommendation rating of Hold, based on a mean score of 3.14. If we narrow it down even further, the data shows that 2 out of 6 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 4 recommended BNS as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Bank Of Nova Scotia is expected to report earnings per share of $1.14 for the current quarter.

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Bank Of Nova Scotia (NYSE:BNS) trade information

Instantly BNS has been showing red trend so far today with a performance of -2.53% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 3.66% year-to-date, but still up 0.50% over the last five days. On the other hand, Bank Of Nova Scotia (NYSE:BNS) is 4.13% up in the 30-day period. We can see from the shorts that 25.55 million shares have been sold at a short interest cover period of 12.14 day(s).

The consensus price target as assigned by Wall Street analysts is $75.6, which translates to bulls needing to increase their stock price by 33.24% from its current value. Analyst projections state that BNS is forecast to be at a low of $75.59601535 and a high of $75.59601535.

Bank Of Nova Scotia (BNS) estimates and forecasts

Bank Of Nova Scotia share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 9.84 percent over the past six months and at a 1.03% annual growth rate that is well above the industry average of 0.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -11.60% in revenue this quarter, and will report a decrease of -3.20% in the next quarter. The year-over-year growth rate is expected to be 5.20%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $6.05 billion in revenue for the current quarter. 1 analysts expect Bank Of Nova Scotia to make $6.23 billion in revenue for the quarter ending Jul 2024.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -4.16%. Bank Of Nova Scotia earnings are expected to increase by 0.27% in 2024, but the outlook is positive 6.30% per year for the next five years.

BNS Dividends

Bank Of Nova Scotia’s next quarterly earnings report is expected to be released around May 22 and May 27. The annual dividend yield of the stock is 6.23 percent and its annual dividend per share was 3.14. It is important to note, however, that the 6.23% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Bank Of Nova Scotia (NYSE:BNS)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.03% of Bank Of Nova Scotia shares, and 49.52% of them are in the hands of institutional investors. The stock currently has a share float of 49.54%. Bank Of Nova Scotia stock is held by 720 institutions, with Royal Bank of Canada being the largest institutional investor. By Dec 30, 2023, it held 8.38% of the shares, which is about 102.46 million shares worth $5.16 billion.

Bank of Montreal/Can/, with 5.89% or 71.98 million shares worth $3.63 billion as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund were the top two Mutual Funds as of Oct 30, 2023. The former held 16.16 million shares worth $814.14 million, making up 1.32% of all outstanding shares. On the other hand, Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund held roughly 9.8 million shares worth around $493.94 million, which represents about 0.80% of the total shares outstanding.