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Bank of Nova Scotia (BNS) Stock Sinks As Market Gains: What You Should Know
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Bank of Nova Scotia (BNS - Free Report) closed the most recent trading day at $71.43, moving -0.36% from the previous trading session. This change lagged the S&P 500's 0.64% gain on the day. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.46%.
Coming into today, shares of the bank had gained 9.67% in the past month. In that same time, the Finance sector gained 4.31%, while the S&P 500 gained 4.56%.
Investors will be hoping for strength from Bank of Nova Scotia as it approaches its next earnings release. On that day, Bank of Nova Scotia is projected to report earnings of $1.67 per share, which would represent year-over-year growth of 14.38%. Meanwhile, our latest consensus estimate is calling for revenue of $6.25 billion, down 0.44% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.66 per share and revenue of $25.54 billion. These totals would mark changes of +6.56% and +3%, respectively, from last year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.06% higher. Bank of Nova Scotia currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Bank of Nova Scotia is holding a Forward P/E ratio of 10.76. Its industry sports an average Forward P/E of 9.52, so we one might conclude that Bank of Nova Scotia is trading at a premium comparatively.
We can also see that BNS currently has a PEG ratio of 1. 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 0.82 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 173, which puts it in the bottom 33% 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.
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 Sinks As Market Gains: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed the most recent trading day at $71.43, moving -0.36% from the previous trading session. This change lagged the S&P 500's 0.64% gain on the day. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.46%.
Coming into today, shares of the bank had gained 9.67% in the past month. In that same time, the Finance sector gained 4.31%, while the S&P 500 gained 4.56%.
Investors will be hoping for strength from Bank of Nova Scotia as it approaches its next earnings release. On that day, Bank of Nova Scotia is projected to report earnings of $1.67 per share, which would represent year-over-year growth of 14.38%. Meanwhile, our latest consensus estimate is calling for revenue of $6.25 billion, down 0.44% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.66 per share and revenue of $25.54 billion. These totals would mark changes of +6.56% and +3%, respectively, from last year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.06% higher. Bank of Nova Scotia currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Bank of Nova Scotia is holding a Forward P/E ratio of 10.76. Its industry sports an average Forward P/E of 9.52, so we one might conclude that Bank of Nova Scotia is trading at a premium comparatively.
We can also see that BNS currently has a PEG ratio of 1. 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 0.82 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 173, which puts it in the bottom 33% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.