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Bank of Nova Scotia (BNS) Stock Moves -0.2%: What You Should Know

·3-min read

In the latest trading session, Bank of Nova Scotia (BNS) closed at $58.84, marking a -0.2% move from the previous day. This change was narrower than the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.

Prior to today's trading, shares of the bank had lost 1.21% over the past month. This has lagged the Finance sector's gain of 1.2% and the S&P 500's gain of 1.44% 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 $1.67 per share. This would mark year-over-year growth of 1.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.26 billion, down 0.91% from the year-ago period.

BNS's full-year Zacks Consensus Estimates are calling for earnings of $6.68 per share and revenue of $25.13 billion. These results would represent year-over-year changes of +6.88% and +1.32%, respectively.

Investors should also note any recent changes to analyst estimates for Bank of Nova Scotia. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. Bank of Nova Scotia is currently a Zacks Rank #4 (Sell).

Digging into valuation, Bank of Nova Scotia currently has a Forward P/E ratio of 8.83. This represents a premium compared to its industry's average Forward P/E of 8.07.

It is also worth noting that BNS currently has a PEG ratio of 1.47. 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 was holding an average PEG ratio of 0.75 at yesterday's closing price.

The Banks - Foreign industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% 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.

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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