A lot of investors had hopes that Bank Of Nova Scotia (BNS) would improve their earnings trend and see the stock move higher. That did not happen as the latest quarterly results were disappointing.
BNS Stock – Significant Market Volatility
While they increased their dividend 8 cents annually for a 9% improvement, the bank blamed “significant market volatility”. In other words, their foreign presence is not working and continues to not impress.
Bank Of Nova Scotia Stock (BNS) Earnings
They reported earnings this morning that disappointed investors and the stock is lower. They did increase their dividend by 8 cents or 9% but profit slipped to $2.25 billion from $2.34 billion a year earlier.
For the quarter ended Jan. 31 the earned $1.71 per diluted share, compared with $1.86 a year ago.
On an adjusted basis, the bank reported first-quarter net income of $1.75 per diluted share, down from $1.87 per diluted share a year ago. Analysts were expecting $1.82 a share.
Bank Of Nova Scotia Stock (BNS) Chart
The one year chart below continues to tell the story of Bank Of Nova Scotia Stock (BNS) – lower.
This article looks at the bank earnings, an analysis of the stock, outlook for the next couple of months and trade ideas as well as alerts for today.
These trades are being done on the TSX Composite Index in Canadian dollars.
The rest of this Canadian Stocks trade alert and ideas article is for FullyInformed Members.
Bank Of Nova Scotia Stock (BNS) Earnings Plunge – Analysis, Outlook and Trade Alerts for Feb 26 2019
Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.