Bank of Nova Scotia (NYSE:BNS) Releases Earnings Results, Misses Expectations By $0.08 EPS

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) announced its quarterly earnings results on Tuesday. The bank reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.08), Zacks reports. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $8.98 billion. Bank of Nova Scotia had a net margin of 10.20% and a return on equity of 11.56%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 EPS.

Bank of Nova Scotia Trading Up 1.0%

NYSE:BNS opened at $52.71 on Wednesday. The firm’s 50 day moving average is $48.82 and its 200 day moving average is $51.09. Bank of Nova Scotia has a 12 month low of $43.68 and a 12 month high of $57.07. The stock has a market capitalization of $65.65 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.16 and a beta of 1.11. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59.

Wall Street Analyst Weigh In

BNS has been the subject of several research reports. CIBC restated a “neutral” rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Royal Bank of Canada decreased their price objective on shares of Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Bank of America lowered shares of Bank of Nova Scotia from a “buy” rating to a “neutral” rating in a report on Monday, March 31st. Finally, Cibc World Mkts lowered shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Bank of Nova Scotia presently has a consensus rating of “Hold” and an average price target of $81.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Bank of Nova Scotia stock. AQR Capital Management LLC increased its stake in The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 111.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,096 shares of the bank’s stock after acquiring an additional 10,056 shares during the period. AQR Capital Management LLC’s holdings in Bank of Nova Scotia were worth $911,000 as of its most recent SEC filing. 49.13% of the stock is owned by institutional investors.

Bank of Nova Scotia Company Profile

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.