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Bank of Nova Scotia (BNS) Stock Moves -1.57%: What You Should Know
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Bank of Nova Scotia (BNS - Free Report) closed at $47.15 in the latest trading session, marking a -1.57% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.37%. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the bank had lost 11.17% over the past month, lagging the Finance sector's loss of 6.57% and the S&P 500's loss of 6.51% 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 $1.57 per share. This would mark a year-over-year decline of 5.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.21 billion, up 1.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.51 per share and revenue of $24.53 billion, which would represent changes of +4.16% and -1.08%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Bank of Nova Scotia. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 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. The Zacks Consensus EPS estimate has moved 0.25% lower within the past month. Bank of Nova Scotia is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 7.36. For comparison, its industry has an average Forward P/E of 7.36, which means Bank of Nova Scotia is trading at a no noticeable deviation to the group.
It is also worth noting that BNS currently has a PEG ratio of 1.4. 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. BNS's industry had an average PEG ratio of 0.87 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 -1.57%: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed at $47.15 in the latest trading session, marking a -1.57% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.37%. Meanwhile, the Dow lost 1.35%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the bank had lost 11.17% over the past month, lagging the Finance sector's loss of 6.57% and the S&P 500's loss of 6.51% 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 $1.57 per share. This would mark a year-over-year decline of 5.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.21 billion, up 1.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.51 per share and revenue of $24.53 billion, which would represent changes of +4.16% and -1.08%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Bank of Nova Scotia. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 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. The Zacks Consensus EPS estimate has moved 0.25% lower within the past month. Bank of Nova Scotia is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 7.36. For comparison, its industry has an average Forward P/E of 7.36, which means Bank of Nova Scotia is trading at a no noticeable deviation to the group.
It is also worth noting that BNS currently has a PEG ratio of 1.4. 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. BNS's industry had an average PEG ratio of 0.87 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.