Brokerages Set Bank of Nova Scotia (TSE:BNS) Price Target at C$81.00

Shares of Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) have been given a consensus recommendation of “Hold” by the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$81.00.

Several equities research analysts have recently weighed in on the stock. TD Securities upped their target price on shares of NFI Group from C$35.00 to C$37.00 and gave the stock a “hold” rating in a report on Wednesday, May 29th. National Bank Financial upped their target price on shares of NFI Group from C$41.00 to C$43.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Canaccord Genuity reaffirmed a “hold” rating and issued a GBX 365 ($4.77) target price on shares of Crest Nicholson in a report on Wednesday, May 15th. Citigroup lowered their target price on shares of Royal Bank of Canada from C$125.00 to C$120.00 in a report on Thursday, June 27th. Finally, BMO Capital Markets upped their target price on shares of NFI Group from C$33.00 to C$36.00 in a report on Wednesday, May 29th.

Shares of BNS stock traded down C$0.69 during mid-day trading on Friday, reaching C$69.83. The company’s stock had a trading volume of 3,075,100 shares, compared to its average volume of 2,682,752. Bank of Nova Scotia has a 1-year low of C$66.36 and a 1-year high of C$78.60. The company has a market capitalization of $85.38 billion and a P/E ratio of 10.42. The firm’s 50-day moving average is C$70.50.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last posted its earnings results on Tuesday, May 28th. The bank reported C$1.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.74 by C($0.04). The firm had revenue of C$7.80 billion for the quarter, compared to analyst estimates of C$7.86 billion. Sell-side analysts anticipate that Bank of Nova Scotia will post 7.6200001 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Friday, June 28th. Bank of Nova Scotia’s dividend 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.

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

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