Bank of Nova Scotia (TSE:BNS) Upgraded to “Hold” at Barclays

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) was upgraded by research analysts at Barclays from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

BNS has been the topic of a number of other research reports. Bank of America raised shares of Bank of Nova Scotia from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$73.00 to C$90.00 in a report on Tuesday. BMO Capital Markets raised their price objective on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a report on Monday. CIBC raised shares of Bank of Nova Scotia from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from C$78.00 to C$82.00 in a report on Friday, September 20th. Cormark cut their price objective on shares of Bank of Nova Scotia from C$68.00 to C$65.00 and set a “market perform” rating on the stock in a report on Tuesday, August 20th. Finally, Canaccord Genuity Group raised shares of Bank of Nova Scotia from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$71.00 to C$84.00 in a report on Tuesday. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$74.75.

Bank of Nova Scotia Price Performance

Bank of Nova Scotia stock opened at C$78.50 on Thursday. The stock has a market cap of C$97.34 billion, a PE ratio of 13.75, a P/E/G ratio of 1.33 and a beta of 0.97. The stock’s fifty day moving average is C$73.29 and its two-hundred day moving average is C$67.50. Bank of Nova Scotia has a 1-year low of C$56.83 and a 1-year high of C$79.16.

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) last issued its earnings results on Tuesday, August 27th. The bank reported C$1.63 earnings per share for the quarter, hitting the consensus estimate of C$1.63. The business had revenue of C$8.36 billion for the quarter, compared to analyst estimates of C$8.50 billion. Bank of Nova Scotia had a return on equity of 9.49% and a net margin of 25.38%. On average, research analysts expect that Bank of Nova Scotia will post 7.1286267 earnings per share for the current fiscal year.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.