We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bank of Nova Scotia (BNS) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Bank of Nova Scotia (BNS - Free Report) closed at $72.70, marking a +1.03% move from the previous day. This move outpaced the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.78%, and the tech-heavy Nasdaq gained 0.28%.
Coming into today, shares of the bank had gained 0.74% in the past month. In that same time, the Finance sector lost 0.29%, while the S&P 500 lost 5.29%.
Wall Street will be looking for positivity from Bank of Nova Scotia as it approaches its next earnings report date. The company is expected to report EPS of $1.53, up 4.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.25 billion, down 0.44% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.63 per share and revenue of $25.54 billion, which would represent changes of +6.08% and +3%, respectively, from the prior year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.48% lower. Bank of Nova Scotia is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Bank of Nova Scotia is holding a Forward P/E ratio of 10.86. This represents a premium compared to its industry's average Forward P/E of 10.45.
Meanwhile, BNS's PEG ratio is currently 1.01. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Foreign industry currently had an average PEG ratio of 0.8 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bank of Nova Scotia (BNS) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Bank of Nova Scotia (BNS - Free Report) closed at $72.70, marking a +1.03% move from the previous day. This move outpaced the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.78%, and the tech-heavy Nasdaq gained 0.28%.
Coming into today, shares of the bank had gained 0.74% in the past month. In that same time, the Finance sector lost 0.29%, while the S&P 500 lost 5.29%.
Wall Street will be looking for positivity from Bank of Nova Scotia as it approaches its next earnings report date. The company is expected to report EPS of $1.53, up 4.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.25 billion, down 0.44% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.63 per share and revenue of $25.54 billion, which would represent changes of +6.08% and +3%, respectively, from the prior year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.48% lower. Bank of Nova Scotia is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Bank of Nova Scotia is holding a Forward P/E ratio of 10.86. This represents a premium compared to its industry's average Forward P/E of 10.45.
Meanwhile, BNS's PEG ratio is currently 1.01. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Foreign industry currently had an average PEG ratio of 0.8 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.