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Bank of Nova Scotia (BNS) Flat 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 $67.84, making no change from the previous trading session. This move lagged the S&P 500's daily gain of 1.12%. At the same time, the Dow added 1.01%, and the tech-heavy Nasdaq lost 0.08%.
Heading into today, shares of the bank had lost 5.67% over the past month, lagging the Finance sector's gain of 2.46% and the S&P 500's gain of 4.63% in that time.
Wall Street will be looking for positivity from Bank of Nova Scotia as it approaches its next earnings report date. On that day, Bank of Nova Scotia is projected to report earnings of $1.62 per share, which would represent year-over-year growth of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.23 billion, up 1.94% from the year-ago period.
BNS's full-year Zacks Consensus Estimates are calling for earnings of $6.58 per share and revenue of $25.67 billion. These results would represent year-over-year changes of +5.28% and +3.51%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% lower. Bank of Nova Scotia is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Bank of Nova Scotia has a Forward P/E ratio of 10.31 right now. This represents a premium compared to its industry's average Forward P/E of 9.67.
Investors should also note that BNS has a PEG ratio of 1.58 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. The Banks - Foreign industry currently had an average PEG ratio of 0.78 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% 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) Flat As Market Gains: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed the most recent trading day at $67.84, making no change from the previous trading session. This move lagged the S&P 500's daily gain of 1.12%. At the same time, the Dow added 1.01%, and the tech-heavy Nasdaq lost 0.08%.
Heading into today, shares of the bank had lost 5.67% over the past month, lagging the Finance sector's gain of 2.46% and the S&P 500's gain of 4.63% in that time.
Wall Street will be looking for positivity from Bank of Nova Scotia as it approaches its next earnings report date. On that day, Bank of Nova Scotia is projected to report earnings of $1.62 per share, which would represent year-over-year growth of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.23 billion, up 1.94% from the year-ago period.
BNS's full-year Zacks Consensus Estimates are calling for earnings of $6.58 per share and revenue of $25.67 billion. These results would represent year-over-year changes of +5.28% and +3.51%, respectively.
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 a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% lower. Bank of Nova Scotia is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Bank of Nova Scotia has a Forward P/E ratio of 10.31 right now. This represents a premium compared to its industry's average Forward P/E of 9.67.
Investors should also note that BNS has a PEG ratio of 1.58 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. The Banks - Foreign industry currently had an average PEG ratio of 0.78 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% 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.