Now trading at a price of $43.94, Bank Nova Scotia Halifax Pfd 3 has moved 3.6% so far today.
As of April 2023, Bank Nova Scotia Halifax Pfd 3 shares had a 50-day average price of $43.56. 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. Based in Toronto, Canada, the large-cap Finance company has 89,483 full time employees. Bank Nova Scotia Halifax Pfd 3 has offered a 9.9% dividend yield over the last 12 months.
The Company's Revenues Are Declining:
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $28,775 | $7,968 | $7,968 | $7,687 | $7,687 | $8,090 |
| Interest Income (MM) | $11,876 | $3,916 | $3,916 | $2,394 | $6,496 | $10,109 |
| Net Margins | 30% | 105% | 28% | 33% | 33% | 27% |
| Net Income (MM) | $8,724 | $8,361 | $2,308 | $2,559 | $2,559 | $2,212 |
| Depreciation & Amort. (MM) | $848 | $271 | $407 | $407 | $394 | $412 |
| Free Cash Flow (MM) | $17,811 | $17,811 | $56,664 | $56,664 | $16,943 | $23,327 |
| Net Current Assets (MM) | -$930,156 | -$1,014,435 | -$1,064,443 | -$1,110,230 | -$1,271,320 | -$1,315,031 |
| Long Term Debt (MM) | $930,813 | $1,015,969 | $1,065,963 | $1,111,952 | $1,274,669 | $1,318,380 |
The Market May Be Undervaluing Bank Nova Scotia Halifax Pfd 3's Earnings and Assets:
Bank Nova Scotia Halifax Pfd 3 has a trailing twelve month P/E ratio of 10.2, compared to an average of 14.34 for the Finance sector. Based on its EPS guidance of $5.25, the company has a forward P/E ratio of 8.3. In contrast, the market is likely undervaluing Bank Nova Scotia Halifax Pfd 3 in terms of its equity because its P/B ratio is 0.77 while the sector average is 1.57.
There's an Analyst Consensus of Some Upside Potential for Bank Nova Scotia Halifax Pfd 3:
The 4 analysts following Bank Nova Scotia Halifax Pfd 3 have set target prices ranging from $43.8 to $52.03 per share, for an average of $47.84 with a hold rating. As of April 2023, the company is trading -8.9% away from its average target price, indicating that there is an analyst consensus of some upside potential.
The largest shareholder is Royal Bank of Canada, whose 8% stake in the company is worth $4,481,689,819.
