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Bank of Nova Scotia (BNS) Gains But Lags Market: What You Should Know
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In the latest trading session, Bank of Nova Scotia (BNS - Free Report) closed at $58.06, marking a +1.27% move from the previous day. This change lagged the S&P 500's 1.5% gain on the day. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.32%.
Prior to today's trading, shares of the bank had lost 14.76% over the past month. This has lagged the Finance sector's loss of 8.98% and the S&P 500's loss of 6.54% 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 $1.66 per share. This would mark year-over-year growth of 1.22%. Meanwhile, our latest consensus estimate is calling for revenue of $6.3 billion, down 0.24% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.69 per share and revenue of $25.2 billion. These totals would mark changes of +7.04% and +1.61%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Bank of Nova Scotia. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Bank of Nova Scotia is currently a Zacks Rank #3 (Hold).
Digging into valuation, Bank of Nova Scotia currently has a Forward P/E ratio of 8.57. This represents a premium compared to its industry's average Forward P/E of 7.79.
It is also worth noting that BNS currently has a PEG ratio of 1.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.77 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Bank of Nova Scotia (BNS) Gains But Lags Market: What You Should Know
In the latest trading session, Bank of Nova Scotia (BNS - Free Report) closed at $58.06, marking a +1.27% move from the previous day. This change lagged the S&P 500's 1.5% gain on the day. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.32%.
Prior to today's trading, shares of the bank had lost 14.76% over the past month. This has lagged the Finance sector's loss of 8.98% and the S&P 500's loss of 6.54% 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 $1.66 per share. This would mark year-over-year growth of 1.22%. Meanwhile, our latest consensus estimate is calling for revenue of $6.3 billion, down 0.24% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.69 per share and revenue of $25.2 billion. These totals would mark changes of +7.04% and +1.61%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Bank of Nova Scotia. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Bank of Nova Scotia is currently a Zacks Rank #3 (Hold).
Digging into valuation, Bank of Nova Scotia currently has a Forward P/E ratio of 8.57. This represents a premium compared to its industry's average Forward P/E of 7.79.
It is also worth noting that BNS currently has a PEG ratio of 1.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Banks - Foreign stocks are, on average, holding a PEG ratio of 0.77 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.