As of Thursday close, The Bank of Nova Scotia’s (NYSE:BNS) stock was down -$0.87, moving down -1.82 percent to $47.03. The average number of shares traded per day over the past five days has been 1,367,960 shares. 3 times new highs have been achieved over the past 5 days, with a -$1.20 fall in that time frame. In the last twenty days, the average volume was 1,413,950, while in the previous 50 days, it was 1,338,580.
Since last month, BNS stock rose 3.50%. Shares of the company fell to $45.25 on 08/25/23, the lowest level in the past month. A 52-week high of $55.91 was reached on 02/14/23 after having rallying from a 52-week low of $45.25. Since the beginning of this year, BNS’s stock price has dropped by -3.98% or -$1.95, and marked a new high 18 times. However, the stock has declined by -15.88% since its 52-week high.
Valuation Metrics
Right now, The Bank of Nova Scotia (BNS) has a P/E ratio of about 9.92. The stock’s beta is 0.99. Besides these, the trailing price-to-sales (P/S) ratio of 1.44, the price-to-book (PB) ratio of 1.12, and the price-to-cash flow ratio of 3.18 may also be considered.
The latest dividend of $0.7801 per share was paid out, which is -0.64% less than last year’s $0.7851.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending July 30 was 0.14, and the total debt-to-equity ratio was 0.14. In the year ended July 30, operating margins totaled 29.40%. Based on annual data, BNS earned $14.07 billion in gross profit and brought in $26.07 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 18.20%. Return on equity (ROE) for the past 12 months was 11.50%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected The Bank of Nova Scotia to report $1.29 quarterly earnings, the actual figure was $1.29 per share.
Technical Picture
This quick technical analysis looks at The Bank of Nova Scotia’s (BNS) price momentum. With a historical volatility rate of 14.64%, the RSI 9-day stood at 41.67% on 21 September.
With respect to its five-day moving average, the current The Bank of Nova Scotia price is down by -2.49% percent or -$1.20. At present, BNS shares trade +1.91% above its 20-day simple moving average and -5.77% percent below its 100-day simple moving average. However, the stock is currently trading approximately -4.12% below its SMA50 and -8.16% below its SMA200.
Stochastic coefficient K was 56.88% and Stochastic coefficient D was 74.72%, while ATR was 0.68. Given the Stochastic reading of 27.66% for the 14-day period, the RSI (14) reading has been calculated as 44.92%. As of today, the MACD Oscillator reading stands at -0.11, while the 14-day reading stands at 0.13.
Analyst Ratings
The Bank of Nova Scotia downgraded its rating on The Bank of Nova Scotia (NYSE: BNS) to an Underweight in a note to investors on May 09, 2023. The analysts firm previously had an Equal weight rating on the stock.The Bank of Nova Scotia (BNS) has been rated Hold by analysts. According to 0 brokerage firms, BNS is a sell, and 3 firms recommend it is a Hold. There are 2 analysts who say the stock is underweight. A total of 1 analyst rate The Bank of Nova Scotia stock as buy, with 1 recommending it as overweight.
With a median target price of $52.00, the current consensus forecast for the stock is $44.46 – $66.40. Based on these forecasts, analysts predict The Bank of Nova Scotia (BNS) will achieve an average price target of $54.29.
