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Bank of Nova Scotia (BNS) Gains But Lags Market: What You Should Know
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Bank of Nova Scotia (BNS - Free Report) closed at $49.06 in the latest trading session, marking a +0.43% move from the prior day. This move lagged the S&P 500's daily gain of 0.96%. Meanwhile, the Dow gained 1.31%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Coming into today, shares of the bank had gained 3.54% in the past month. In that same time, the Finance sector gained 2.15%, while the S&P 500 lost 0.41%.
Wall Street will be looking for positivity from Bank of Nova Scotia as it approaches its next earnings report date. On that day, Bank of Nova Scotia is projected to report earnings of $1.57 per share, which would represent a year-over-year decline of 5.42%. Our most recent consensus estimate is calling for quarterly revenue of $6.21 billion, up 1.77% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Bank of Nova Scotia. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 1.74% lower within the past month. Bank of Nova Scotia is currently a Zacks Rank #3 (Hold).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 7.58. Its industry sports an average Forward P/E of 7.68, so we one might conclude that Bank of Nova Scotia is trading at a discount comparatively.
Also, we should mention that BNS has a PEG ratio of 1.44. 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 1 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
Bank of Nova Scotia (BNS - Free Report) closed at $49.06 in the latest trading session, marking a +0.43% move from the prior day. This move lagged the S&P 500's daily gain of 0.96%. Meanwhile, the Dow gained 1.31%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Coming into today, shares of the bank had gained 3.54% in the past month. In that same time, the Finance sector gained 2.15%, while the S&P 500 lost 0.41%.
Wall Street will be looking for positivity from Bank of Nova Scotia as it approaches its next earnings report date. On that day, Bank of Nova Scotia is projected to report earnings of $1.57 per share, which would represent a year-over-year decline of 5.42%. Our most recent consensus estimate is calling for quarterly revenue of $6.21 billion, up 1.77% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Bank of Nova Scotia. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 1.74% lower within the past month. Bank of Nova Scotia is currently a Zacks Rank #3 (Hold).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 7.58. Its industry sports an average Forward P/E of 7.68, so we one might conclude that Bank of Nova Scotia is trading at a discount comparatively.
Also, we should mention that BNS has a PEG ratio of 1.44. 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 1 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.