What is Cormark’s Forecast for BNS Q4 Earnings?

The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) – Stock analysts at Cormark issued their Q4 2024 earnings per share (EPS) estimates for Bank of Nova Scotia in a report released on Monday, November 25th. Cormark analyst L. Persaud expects that the bank will post earnings of $1.17 per share for the quarter. The consensus estimate for Bank of Nova Scotia’s current full-year earnings is $4.53 per share. Cormark also issued estimates for Bank of Nova Scotia’s FY2025 earnings at $5.08 EPS.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last released its quarterly earnings results on Tuesday, August 27th. The bank reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. Bank of Nova Scotia had a return on equity of 11.14% and a net margin of 9.84%. The company had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on the company. Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays raised Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 21st. TD Securities raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. UBS Group raised Bank of Nova Scotia from a “neutral” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Canaccord Genuity Group raised Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.00.

Bank of Nova Scotia Stock Performance

NYSE BNS opened at $56.22 on Wednesday. Bank of Nova Scotia has a fifty-two week low of $41.80 and a fifty-two week high of $56.79. The stock has a market cap of $69.96 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. The business has a fifty day moving average of $53.57 and a 200-day moving average of $49.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.

Institutional Investors Weigh In On Bank of Nova Scotia

A number of institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Bank of Nova Scotia during the third quarter valued at about $111,000. Toronto Dominion Bank grew its position in Bank of Nova Scotia by 9.6% during the third quarter. Toronto Dominion Bank now owns 24,990,868 shares of the bank’s stock valued at $1,361,752,000 after acquiring an additional 2,195,604 shares during the period. Geode Capital Management LLC grew its position in Bank of Nova Scotia by 10.3% during the third quarter. Geode Capital Management LLC now owns 5,640,471 shares of the bank’s stock valued at $310,817,000 after acquiring an additional 524,496 shares during the period. Executive Wealth Management LLC purchased a new stake in Bank of Nova Scotia during the third quarter valued at about $619,000. Finally, Abel Hall LLC purchased a new stake in Bank of Nova Scotia during the third quarter valued at about $218,000. Hedge funds and other institutional investors own 49.13% of the company’s stock.

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.