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Bank of Nova Scotia (BNS) Gains As Market Dips: What You Should Know
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Bank of Nova Scotia (BNS - Free Report) closed at $73.75 in the latest trading session, marking a +0.78% move from the prior day. This move outpaced the S&P 500's daily loss of 0.37%.
Heading into today, shares of the bank had gained 1.05% over the past month, outpacing the Finance sector's loss of 1.3% and the S&P 500's loss of 6.01% in that time.
Investors will be hoping for strength from Bank of Nova Scotia as it approaches its next earnings release, which is expected to be March 1, 2022. The company is expected to report EPS of $1.65, up 13.01% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.25 billion, down 0.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.61 per share and revenue of $25.54 billion. These totals would mark changes of +5.76% and +3%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Bank of Nova Scotia. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.72% lower. Bank of Nova Scotia currently has a Zacks Rank of #3 (Hold).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 11.07. Its industry sports an average Forward P/E of 10.36, so we one might conclude that Bank of Nova Scotia is trading at a premium comparatively.
Also, we should mention that BNS has a PEG ratio of 1.03. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.81 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 95, which puts it in the top 38% 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 As Market Dips: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed at $73.75 in the latest trading session, marking a +0.78% move from the prior day. This move outpaced the S&P 500's daily loss of 0.37%.
Heading into today, shares of the bank had gained 1.05% over the past month, outpacing the Finance sector's loss of 1.3% and the S&P 500's loss of 6.01% in that time.
Investors will be hoping for strength from Bank of Nova Scotia as it approaches its next earnings release, which is expected to be March 1, 2022. The company is expected to report EPS of $1.65, up 13.01% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.25 billion, down 0.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.61 per share and revenue of $25.54 billion. These totals would mark changes of +5.76% and +3%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Bank of Nova Scotia. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.72% lower. Bank of Nova Scotia currently has a Zacks Rank of #3 (Hold).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 11.07. Its industry sports an average Forward P/E of 10.36, so we one might conclude that Bank of Nova Scotia is trading at a premium comparatively.
Also, we should mention that BNS has a PEG ratio of 1.03. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.81 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 95, which puts it in the top 38% 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.