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The Bank of Nova Scotia (BNS) 2023 Stock Forecast: Bullish Outlook with 35.28% Upside

The Bank of Nova Scotia (NYSE: BNS) is 0.43% higher on its value in year-to-date trading and has touched a low of $45.26 and a high of $68.59 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BNS stock was last observed hovering at around $49.53 in the last trading session, with the day’s loss setting it -0.34% off its average median price target of $52.00 for the next 12 months. It is also 35.28% off the consensus price target high of $76.00 offered by 7 analysts, but current levels are -3.36% lower than the price target low of $47.59 for the same period.

Currently trading at $49.19, the stock is -0.31% and -0.65% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.69 million and changing -0.69% at the moment leaves the stock -4.38% off its SMA200. BNS registered -21.36% loss for a year compared to 6-month loss of -4.58%.

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The stock witnessed a -1.64% gain in the last 1 month and extending the period to 3 months gives it a -6.82%, and is 0.18% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.35% over the week and 1.58% over the month.

The Bank of Nova Scotia (BNS) has around 91264 employees, a market worth around $59.08B and $29.82B in sales. Current P/E ratio is 9.18 and Fwd P/E is 6.23. Profit margin for the company is 21.60%. Distance from 52-week low is 8.68% and -28.28% from its 52-week high. The company has generated returns on investments over the last 12 months (18.20%).

The Bank of Nova Scotia (BNS) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for The Bank of Nova Scotia (BNS) is a “Hold”. 7 analysts offering their recommendations for the stock have an average rating of 3.00, where 5 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

The Bank of Nova Scotia is expected to release its quarterly report on 08/29/2023.The EPS is expected to grow by 4.20% this year.

The Bank of Nova Scotia (BNS) Top Institutional Holders

The shares outstanding are 1.19B, and float is at 1.19B with Short Float at 1.67%.

The Bank of Nova Scotia (BNS): Who are the competitors?

Royal Bank of Canada (RY) is -5.88% down on the 1-year trading charts.

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