Bank of Nova Scotia (BNS) closed the most recent trading day at $51.44, moving -0.69% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.89%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.24%.
Prior to today's trading, shares of the bank had gained 9.86% over the past month. This has lagged the Finance sector's gain of 14.17% and the S&P 500's gain of 11.42% in that time.
Investors will be hoping for strength from Bank of Nova Scotia as it approaches its next earnings release, which is expected to be November 29, 2022. In that report, analysts expect Bank of Nova Scotia to post earnings of $1.54 per share. This would mark a year-over-year decline of 7.23%. Meanwhile, our latest consensus estimate is calling for revenue of $6.21 billion, up 1.77% from the prior-year quarter.
Any recent changes to analyst estimates for Bank of Nova Scotia should also be noted by investors. These revisions help to show the ever-changing nature of 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. The Zacks Consensus EPS estimate has moved 2.75% lower within the past month. Bank of Nova Scotia currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Bank of Nova Scotia currently has a Forward P/E ratio of 8.12. This valuation marks a premium compared to its industry's average Forward P/E of 7.78.
We can also see that BNS currently has a PEG ratio of 1.55. 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 1.06 based on yesterday's closing prices.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Bank of Nova Scotia The (BNS) : Free Stock Analysis Report
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