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Bank of Nova Scotia (BNS) Stock Sinks As Market Gains: What You Should Know
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Bank of Nova Scotia (BNS - Free Report) closed at $66.74 in the latest trading session, marking a -0.24% move from the prior day. This move lagged the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.7%, and the tech-heavy Nasdaq lost 0.11%.
Prior to today's trading, shares of the bank had lost 9.35% over the past month. This has lagged the Finance sector's loss of 6.24% and the S&P 500's loss of 5.26% in that time.
Bank of Nova Scotia will be looking to display strength as it nears its next earnings release. In that report, analysts expect Bank of Nova Scotia to post earnings of $1.62 per share. This would mark year-over-year growth of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.23 billion, up 1.94% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.64 per share and revenue of $25.67 billion. These totals would mark changes of +6.24% and +3.51%, respectively, from last year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% lower. Bank of Nova Scotia currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Bank of Nova Scotia currently has a Forward P/E ratio of 10.07. This valuation marks a premium compared to its industry's average Forward P/E of 9.86.
Also, we should mention that BNS has a PEG ratio of 1.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Foreign industry currently had an average PEG ratio of 0.77 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bank of Nova Scotia (BNS) Stock Sinks As Market Gains: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed at $66.74 in the latest trading session, marking a -0.24% move from the prior day. This move lagged the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.7%, and the tech-heavy Nasdaq lost 0.11%.
Prior to today's trading, shares of the bank had lost 9.35% over the past month. This has lagged the Finance sector's loss of 6.24% and the S&P 500's loss of 5.26% in that time.
Bank of Nova Scotia will be looking to display strength as it nears its next earnings release. In that report, analysts expect Bank of Nova Scotia to post earnings of $1.62 per share. This would mark year-over-year growth of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.23 billion, up 1.94% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.64 per share and revenue of $25.67 billion. These totals would mark changes of +6.24% and +3.51%, respectively, from last year.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% lower. Bank of Nova Scotia currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Bank of Nova Scotia currently has a Forward P/E ratio of 10.07. This valuation marks a premium compared to its industry's average Forward P/E of 9.86.
Also, we should mention that BNS has a PEG ratio of 1.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Foreign industry currently had an average PEG ratio of 0.77 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.