Analysts at RBC Capital upped their price target on shares of Bank of Nova Scotia (NYSE: BNS) from $63.00 to $67.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “outperform” rating on the stock.
BNS has been the subject of a number of other recent research reports. Analysts at TD Securities downgraded shares of Bank of Nova Scotia from an “action list buy” rating to a “buy” rating in a research note to investors on Wednesday. They now have a $69.00 price target on the stock, up previously from $67.00. Separately, analysts at Canaccord Genuity raised their price target on shares of Bank of Nova Scotia from $67.00 to $69.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Scotiabank raised their price target on shares of Bank of Nova Scotia from $65.00 to $70.00 in a research note to investors on Wednesday. They now have a “sector perform” rating on the stock.
Thirteen analysts have rated the stock with a buy rating, two have issued an overweight rating, and five have issued a hold rating to the company. The stock presently has a consensus rating of “overweight” and a consensus target price of $63.25.
Shares of Bank of Nova Scotia traded down 0.31% during mid-day trading on Wednesday, hitting $59.4664. Bank of Nova Scotia has a one year low of $48.45 and a one year high of $60.23. The stock’s 50-day moving average is currently $58.76. The company has a market cap of $70.447 billion and a P/E ratio of 11.21.
Bank of Nova Scotia last issued its quarterly earnings data on Tuesday, March 5th. The company reported $1.25 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.27 by $0.02. The company had revenue of $5.26 billion for the quarter. During the same quarter last year, the company posted $1.20 earnings per share. Bank of Nova Scotia’s revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that Bank of Nova Scotia will post $5.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, April 26th. Investors of record on Tuesday, April 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%.
The Bank of Nova Scotia (the Bank) is a diversified financial institution. As of October 31, 2011, the Bank offered a range of products and services, including retail, commercial, corporate and investment banking to more than 18.
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