For its first fiscal quarter (ending January 31), The Bank of Nova Scotia (NYSE: BNS) has reported a 25% increase in E.P.S. from $1.36 a year ago to $1.70 in the current quarter. This performance was $0.50 better than the consensus estimate of $1.20. E.P.S. were $6.17 for the latest four quarters through January 31 versus $7.26 for the same period a year ago — a decline of -15%.
Recent Price Action
On 2/27/24, The Bank of Nova Scotia (NYSE: BNS) stock enjoyed a large increase of 3.0%, closing at $48.69. Moreover, exceptionally high trading volume at 244% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has risen 2.8% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, BNS is expected to continue to be an important Value Builder.
Bank of Nova Scotia has a current Value Trend Rating of B (Positive). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Bank of Nova Scotia has a very high Appreciation Score of 91 but a neutral Power Rating of 45, with the Positive Value Trend Rating the result.
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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