16:12:28 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,216,582,245
Close 2014-12-05 C$ 66.20
Market Cap C$ 80,537,744,619
Recent Sedar Documents

Post says add Scotiabank's Q4 to the "miss" pile

2014-12-08 08:15 ET - In the News

The Financial Post reports in its Saturday edition Bank of Nova Scotia's fourth quarter was another banking "miss," and it could get even worse for shareholders in the financial players before the choppiness subsides. The Post's David Pett writes bank shares have been clobbered this earnings season on a string of weaker-than-expected profits and repeated warnings about fiscal 2015 earnings. The S&P/TSX bank index is down 5.4 per cent in the past five days. Scotiabank only added to the unease this week when it reported lacklustre earnings results on Friday. Having already announced $451-million in charges last month, Scotia said its net income for the period ended Oct. 31 slid to $1.44-billion, or $1.10 a share, from $1.68-billion, or $1.29, a year earlier. Adjusted profit was $1.39 a share, missing the $1.40 average estimate of analysts. Scotia also warned that "headwinds" experienced over the past few quarters will persist into the first half of 2015. Barclays analyst John Aiken said, "We continue to believe that Scotia has the ability to outpace its peers' earnings growth but that its trajectory is likely to be much more volatile." Scotiabank closed Friday at $66.20, down $1.38.

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