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Bank of Nova Scotia (BNS) Dips More Than Broader Markets: What You Should Know
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Bank of Nova Scotia (BNS - Free Report) closed the most recent trading day at $52.79, moving -0.47% from the previous trading session. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Coming into today, shares of the bank had gained 2.2% in the past month. In that same time, the Finance sector gained 0.34%, while the S&P 500 gained 0.84%.
Wall Street will be looking for positivity from Bank of Nova Scotia as it approaches its next earnings report date. This is expected to be February 28, 2023. In that report, analysts expect Bank of Nova Scotia to post earnings of $1.52 per share. This would mark a year-over-year decline of 10.59%.
BNS's full-year Zacks Consensus Estimates are calling for earnings of $6.11 per share and revenue of $24.59 billion. These results would represent year-over-year changes of -7.42% and +0.72%, respectively.
Investors might also notice 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 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.13% higher. Bank of Nova Scotia is currently a Zacks Rank #3 (Hold).
In terms of valuation, Bank of Nova Scotia is currently trading at a Forward P/E ratio of 8.68. This represents a premium compared to its industry's average Forward P/E of 8.38.
Also, we should mention that BNS has a PEG ratio of 2. 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 0.89 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 13, which puts it in the top 6% 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) Dips More Than Broader Markets: What You Should Know
Bank of Nova Scotia (BNS - Free Report) closed the most recent trading day at $52.79, moving -0.47% from the previous trading session. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Coming into today, shares of the bank had gained 2.2% in the past month. In that same time, the Finance sector gained 0.34%, while the S&P 500 gained 0.84%.
Wall Street will be looking for positivity from Bank of Nova Scotia as it approaches its next earnings report date. This is expected to be February 28, 2023. In that report, analysts expect Bank of Nova Scotia to post earnings of $1.52 per share. This would mark a year-over-year decline of 10.59%.
BNS's full-year Zacks Consensus Estimates are calling for earnings of $6.11 per share and revenue of $24.59 billion. These results would represent year-over-year changes of -7.42% and +0.72%, respectively.
Investors might also notice 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 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.13% higher. Bank of Nova Scotia is currently a Zacks Rank #3 (Hold).
In terms of valuation, Bank of Nova Scotia is currently trading at a Forward P/E ratio of 8.68. This represents a premium compared to its industry's average Forward P/E of 8.38.
Also, we should mention that BNS has a PEG ratio of 2. 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 0.89 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 13, which puts it in the top 6% 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.