Bank Of Nova Scotia (NYSE:BNS) shares, rose in value on Friday, November 22, with the stock price up by 0.41% to the previous day’s close as strong demand from buyers drove the stock to $56.45.
Actively observing the price movement in the last trading, the stock closed the session at $56.22, falling within a range of $56.02 and $56.475. The value of beta (5-year monthly) was 0.978 whereas the PE ratio was 13.49 over 12-month period. Referring to stock’s 52-week performance, its high was $56.71, and the low was $41.80. On the whole, BNS has fluctuated by 7.65% over the past month.
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With the market capitalization of Bank Of Nova Scotia currently standing at about $96.92 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December. The company’s Forward Dividend Ratio is 3.14, with its dividend yield at 5.57%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 33.87B, with a low estimate of 8.47B and a high estimate of 8.79B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 8.63B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that BNS’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.89, with the price of BNS currently trading nearly 4.83% and 5.69% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 74.58, while the 7-day volatility ratio is showing 1.50% which for the 30-day chart, stands at 1.33%. Furthermore, Bank Of Nova Scotia (BNS)’s beta value is 1.05, and its average true range (ATR) is 0.71.
A comparison of Bank Of Nova Scotia (BNS) with its peers suggests the former has fared considerably weaker in the market. BNS showed an intraday change of 0.41% in last session, and over the past year, it grew by 28.44%%.
Data on historical trading for Bank Of Nova Scotia (NYSE:BNS) indicates that the trading volumes over the past 10 days have averaged 1.19 and over the past 3 months, they’ve averaged 1.60 million. According to company’s latest data on outstanding shares, there are 1.23 billion shares outstanding.
Nearly 0.03% of Bank Of Nova Scotia’s shares belong to company insiders and institutional investors own 49.13% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 26.85 million shares as on 2024-10-31, resulting in a short ratio of 16.46. The stock has risen by 15.94% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BNS stock heading into the next quarter.
