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Bank of Nova Scotia (BNS) Stock Moves -1.44%: What You Should Know
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Bank of Nova Scotia (BNS - Free Report) closed at $51.26 in the latest trading session, marking a -1.44% move from the prior day. This change was narrower than the S&P 500's 1.56% loss on the day. Elsewhere, the Dow lost 1.81%, while the tech-heavy Nasdaq lost 4.66%.
Coming into today, shares of the bank had gained 8.38% in the past month. In that same time, the Finance sector gained 7.41%, while the S&P 500 gained 3.82%.
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 $1.52 per share, which would represent a year-over-year decline of 10.59%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.11 per share and revenue of $24.59 billion, which would represent changes of -7.42% and +0.72%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant. Bank of Nova Scotia is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 8.52. Its industry sports an average Forward P/E of 8, so we one might conclude that Bank of Nova Scotia is trading at a premium comparatively.
It is also worth noting that BNS currently has a PEG ratio of 1.9. 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. BNS's industry had an average PEG ratio of 0.93 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Bank of Nova Scotia (BNS) Stock Moves -1.44%: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed at $51.26 in the latest trading session, marking a -1.44% move from the prior day. This change was narrower than the S&P 500's 1.56% loss on the day. Elsewhere, the Dow lost 1.81%, while the tech-heavy Nasdaq lost 4.66%.
Coming into today, shares of the bank had gained 8.38% in the past month. In that same time, the Finance sector gained 7.41%, while the S&P 500 gained 3.82%.
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 $1.52 per share, which would represent a year-over-year decline of 10.59%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.11 per share and revenue of $24.59 billion, which would represent changes of -7.42% and +0.72%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant. Bank of Nova Scotia is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Bank of Nova Scotia's current valuation metrics, including its Forward P/E ratio of 8.52. Its industry sports an average Forward P/E of 8, so we one might conclude that Bank of Nova Scotia is trading at a premium comparatively.
It is also worth noting that BNS currently has a PEG ratio of 1.9. 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. BNS's industry had an average PEG ratio of 0.93 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.