Royal Bank of Canada Has Lowered Expectations for Bank of Nova Scotia (TSE:BNS) Stock Price

Bank of Nova Scotia (TSE:BNS) (NYSE:BNS) had its price target dropped by equities research analysts at Royal Bank of Canada from C$83.00 to C$81.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price target suggests a potential upside of 12.53% from the company’s previous close.

BNS has been the subject of several other research reports. TD Securities reduced their target price on shares of Bank of Nova Scotia from C$82.00 to C$81.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. BMO Capital Markets boosted their price objective on shares of Bank of Nova Scotia from C$72.00 to C$84.00 in a research report on Monday, November 18th. UBS Group raised shares of Bank of Nova Scotia from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Accountability Research set a C$82.00 target price on shares of Bank of Nova Scotia and gave the company a “buy” rating in a research note on Thursday, January 9th. Finally, Cibc World Mkts cut shares of Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$78.17.

Bank of Nova Scotia Price Performance

Shares of BNS stock traded up C$0.58 during trading hours on Wednesday, hitting C$71.98. The company had a trading volume of 1,474,489 shares, compared to its average volume of 4,349,285. The stock has a market capitalization of C$88.21 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Bank of Nova Scotia has a fifty-two week low of C$60.68 and a fifty-two week high of C$80.14. The company’s fifty day moving average is C$74.45 and its 200 day moving average is C$72.88.

Bank of Nova Scotia Company Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.