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Bank of Nova Scotia (BNS) Stock Moves -1.8%: What You Should Know
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In the latest trading session, Bank of Nova Scotia (BNS - Free Report) closed at $62.57, marking a -1.8% move from the previous day. This change was narrower than the S&P 500's 3.2% loss on the day. At the same time, the Dow lost 1.99%, and the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the bank had lost 8.51% in the past month. In that same time, the Finance sector lost 7.88%, while the S&P 500 lost 7.87%.
Bank of Nova Scotia will be looking to display strength as it nears its next earnings release, which is expected to be May 25, 2022. On that day, Bank of Nova Scotia is projected to report earnings of $1.62 per share, which would represent year-over-year growth of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.23 billion, up 1.94% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.64 per share and revenue of $25.67 billion, which would represent changes of +6.24% and +3.51%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Bank of Nova Scotia. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.77% lower. Bank of Nova Scotia currently has a Zacks Rank of #3 (Hold).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 9.59. For comparison, its industry has an average Forward P/E of 9.08, which means Bank of Nova Scotia is trading at a premium to the group.
Also, we should mention that BNS has a PEG ratio of 1.47. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BNS's industry had an average PEG ratio of 0.72 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Bank of Nova Scotia (BNS) Stock Moves -1.8%: What You Should Know
In the latest trading session, Bank of Nova Scotia (BNS - Free Report) closed at $62.57, marking a -1.8% move from the previous day. This change was narrower than the S&P 500's 3.2% loss on the day. At the same time, the Dow lost 1.99%, and the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the bank had lost 8.51% in the past month. In that same time, the Finance sector lost 7.88%, while the S&P 500 lost 7.87%.
Bank of Nova Scotia will be looking to display strength as it nears its next earnings release, which is expected to be May 25, 2022. On that day, Bank of Nova Scotia is projected to report earnings of $1.62 per share, which would represent year-over-year growth of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.23 billion, up 1.94% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.64 per share and revenue of $25.67 billion, which would represent changes of +6.24% and +3.51%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Bank of Nova Scotia. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.77% lower. Bank of Nova Scotia currently has a Zacks Rank of #3 (Hold).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 9.59. For comparison, its industry has an average Forward P/E of 9.08, which means Bank of Nova Scotia is trading at a premium to the group.
Also, we should mention that BNS has a PEG ratio of 1.47. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BNS's industry had an average PEG ratio of 0.72 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.