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) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Bank of Nova Scotia (BNS - Free Report) closed at $50.44 in the latest trading session, marking a +0.22% move from the prior day. The stock lagged the S&P 500's daily gain of 1.29%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 10.96%.
Heading into today, shares of the bank had gained 0.84% over the past month, lagging the Finance sector's gain of 2.67% and outpacing the S&P 500's loss of 0.23% in that time.
Investors will be hoping for strength from Bank of Nova Scotia as it approaches its next earnings release. The company is expected to report EPS of $1.52, down 10.59% from the prior-year quarter.
BNS's full-year Zacks Consensus Estimates are calling for earnings of $6.11 per share and revenue of $24.59 billion. These results would represent year-over-year changes of -7.42% and +0.72%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Bank of Nova Scotia currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Bank of Nova Scotia currently has a Forward P/E ratio of 8.24. This valuation marks a premium compared to its industry's average Forward P/E of 7.84.
Investors should also note that BNS has a PEG ratio of 1.84 right now. 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 1.02 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 22, putting it in the top 9% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bank of Nova Scotia (BNS) Gains But Lags Market: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed at $50.44 in the latest trading session, marking a +0.22% move from the prior day. The stock lagged the S&P 500's daily gain of 1.29%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 10.96%.
Heading into today, shares of the bank had gained 0.84% over the past month, lagging the Finance sector's gain of 2.67% and outpacing the S&P 500's loss of 0.23% in that time.
Investors will be hoping for strength from Bank of Nova Scotia as it approaches its next earnings release. The company is expected to report EPS of $1.52, down 10.59% from the prior-year quarter.
BNS's full-year Zacks Consensus Estimates are calling for earnings of $6.11 per share and revenue of $24.59 billion. These results would represent year-over-year changes of -7.42% and +0.72%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Bank of Nova Scotia currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Bank of Nova Scotia currently has a Forward P/E ratio of 8.24. This valuation marks a premium compared to its industry's average Forward P/E of 7.84.
Investors should also note that BNS has a PEG ratio of 1.84 right now. 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 1.02 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 22, putting it in the top 9% 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.