Desjardins Issues Optimistic Forecast for TSE:BNS Earnings

Key Points

• Desjardins raised its FY2025 earnings per share estimate for Bank of Nova Scotia from $6.80 to $7.00, with a target price of $85.00.
• The bank recently increased its quarterly dividend to $1.10 per share, resulting in an annual yield of 5.2%.
• Brokerages have also boosted their price targets for the stock, with Barclays setting a new target of C$86.00 and TD Securities adjusting it to C$93.00.

The Bank of Nova Scotia (TSE:BNS - Free Report) NYSE: BNS - Desjardins raised their FY2025 earnings per share estimates for Bank of Nova Scotia in a note issued to investors on Tuesday, August 26th. Desjardins analyst D. Young now anticipates that the bank will post earnings per share of $7.00 for the year, up from their prior estimate of $6.80. Desjardins currently has a "Hold" rating and a $85.00 target price on the stock. The consensus estimate for Bank of Nova Scotia's current full-year earnings is $7.13 per share. Desjardins also issued estimates for Bank of Nova Scotia's FY2026 earnings at $7.95 EPS.

A number of other brokerages have also recently commented on BNS. National Bankshares lifted their price target on Bank of Nova Scotia from C$73.00 to C$81.00 in a research note on Wednesday. Barclays raised their target price on shares of Bank of Nova Scotia from C$81.00 to C$86.00 in a report on Wednesday. TD Securities upped their price target on shares of Bank of Nova Scotia from C$87.00 to C$93.00 and gave the company a "buy" rating in a report on Wednesday. Jefferies Financial Group increased their price target on shares of Bank of Nova Scotia from C$83.00 to C$86.00 in a research report on Wednesday. Finally, Bank of America boosted their price objective on shares of Bank of Nova Scotia from C$78.00 to C$88.00 in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$85.62.

Bank of Nova Scotia Trading Up 0.2%

TSE BNS opened at C$85.13 on Thursday. The firm has a market cap of C$104.32 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a 1-year low of C$62.57 and a 1-year high of C$86.39. The stock has a 50-day moving average of C$76.74 and a 200-day moving average of C$72.31.

Bank of Nova Scotia Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 29th were issued a $1.10 dividend. This is a boost from Bank of Nova Scotia's previous quarterly dividend of $1.06. The ex-dividend date was Wednesday, July 2nd. This represents a $4.40 annualized dividend and a yield of 5.2%. Bank of Nova Scotia's dividend payout ratio (DPR) is currently 67.00%.

About Bank of Nova Scotia

Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth management, global banking and markets, and other. It offers a range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

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