For its fourth fiscal quarter (ending October 31), The Bank of Nova Scotia (NYSE: BNS) has reported a -37% decline in E.P.S. from $1.64 a year ago to $1.03 in the current quarter. This result fell short of the consensus estimate of $1.24 by $-0.21. E.P.S. were $5.84 for the latest four quarters through October 31 versus $8.05 for the same period a year ago — a decline of -27%.
Recent Price Action
The Bank of Nova Scotia (NYSE: BNS) stock closed at $42.40 on 11/28/23 after a large decline of -4.1%. The stock has declined -4.8% during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
BNS is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Bank of Nova Scotia has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Bank of Nova Scotia has a very high Appreciation Score of 91 but a slightly negative Power Rating of 35, resulting in the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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