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) Stock Moves -0.47%: What You Should Know
Read MoreHide Full Article
Bank of Nova Scotia (BNS - Free Report) closed the most recent trading day at $53.06, moving -0.47% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.3%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 5.51%.
Coming into today, shares of the bank had gained 8.84% in the past month. In that same time, the Finance sector gained 7.48%, while the S&P 500 gained 6.41%.
Bank of Nova Scotia will be looking to display strength as it nears its next earnings release. On that day, Bank of Nova Scotia is projected to report earnings of $1.53 per share, which would represent a year-over-year decline of 10%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.12 per share and revenue of $24.59 billion. These totals would mark changes of -7.27% and +0.72%, respectively, from last year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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 has moved 0.26% higher. Bank of Nova Scotia is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 8.71. This represents a premium compared to its industry's average Forward P/E of 8.32.
It is also worth noting that BNS currently has a PEG ratio of 1.94. 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. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 12, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow BNS in the coming trading sessions, be sure to utilize 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) Stock Moves -0.47%: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed the most recent trading day at $53.06, moving -0.47% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.3%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 5.51%.
Coming into today, shares of the bank had gained 8.84% in the past month. In that same time, the Finance sector gained 7.48%, while the S&P 500 gained 6.41%.
Bank of Nova Scotia will be looking to display strength as it nears its next earnings release. On that day, Bank of Nova Scotia is projected to report earnings of $1.53 per share, which would represent a year-over-year decline of 10%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.12 per share and revenue of $24.59 billion. These totals would mark changes of -7.27% and +0.72%, respectively, from last year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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 has moved 0.26% higher. Bank of Nova Scotia is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 8.71. This represents a premium compared to its industry's average Forward P/E of 8.32.
It is also worth noting that BNS currently has a PEG ratio of 1.94. 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. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 12, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow BNS in the coming trading sessions, be sure to utilize Zacks.com.