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Bank of Nova Scotia (BNS) Gains But Lags Market: What You Should Know
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Bank of Nova Scotia (BNS - Free Report) closed the most recent trading day at $55.61, moving +1.57% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.92%. At the same time, the Dow added 2.15%, and the tech-heavy Nasdaq gained 0.12%.
Heading into today, shares of the bank had lost 10.8% over the past month, lagging the Finance sector's loss of 1.27% and the S&P 500's gain of 1.54% in that time.
Bank of Nova Scotia will be looking to display strength as it nears its next earnings release. In that report, analysts expect Bank of Nova Scotia to post earnings of $1.66 per share. This would mark year-over-year growth of 1.22%. Our most recent consensus estimate is calling for quarterly revenue of $6.3 billion, down 0.24% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.69 per share and revenue of $25.2 billion. These totals would mark changes of +7.04% and +1.61%, respectively, from last year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Bank of Nova Scotia is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Bank of Nova Scotia is currently trading at a Forward P/E ratio of 8.18. This valuation marks a premium compared to its industry's average Forward P/E of 7.71.
It is also worth noting that BNS currently has a PEG ratio of 1.36. 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 0.74 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bank of Nova Scotia (BNS) Gains But Lags Market: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed the most recent trading day at $55.61, moving +1.57% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.92%. At the same time, the Dow added 2.15%, and the tech-heavy Nasdaq gained 0.12%.
Heading into today, shares of the bank had lost 10.8% over the past month, lagging the Finance sector's loss of 1.27% and the S&P 500's gain of 1.54% in that time.
Bank of Nova Scotia will be looking to display strength as it nears its next earnings release. In that report, analysts expect Bank of Nova Scotia to post earnings of $1.66 per share. This would mark year-over-year growth of 1.22%. Our most recent consensus estimate is calling for quarterly revenue of $6.3 billion, down 0.24% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.69 per share and revenue of $25.2 billion. These totals would mark changes of +7.04% and +1.61%, respectively, from last year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Bank of Nova Scotia is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Bank of Nova Scotia is currently trading at a Forward P/E ratio of 8.18. This valuation marks a premium compared to its industry's average Forward P/E of 7.71.
It is also worth noting that BNS currently has a PEG ratio of 1.36. 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 0.74 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.