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Highlights:
- Bank of Nova Scotia paid a quarterly dividend of C$ 1.03.
- Nuvei Corporation has a market cap of US$ 5.15 billion.
- goeasy Ltd.’s total assets in Q3 2022 were C$ 3.13 billion.
As a beginner investor, one should know certain things about the market and tread very carefully before putting bets on any stocks. The goals should be defined first for traders. One should also think about the investment style while entering the equity market. Especially in times like these when there is high volatility in the market.
It is important to note that stock selection should be a well-executed process after doing due diligence. Taking advice from experts is one way of staying safe at the start of the game.
In this article, we look at three TSX stocks and analyze their financial results in the latest quarter:
Bank of Nova Scotia (TSX:BNS)
Bank of Nova Scotia majorly operates these business segments: commercial banking, private banking, personal banking, etc. Nova has a dividend yield of 6.315 per cent and paid a quarterly dividend of C$ 1.03.
Bank of Nova Scotia posted Q4 2022 net income of C$ 2,093 million, versus C$ 2,559 million in the same quarter a year ago. The bank's earnings per share (diluted) in Q4 2022 was C$ 1.63 compared to C$ 1.97 in Q4 2021.
Nuvei Corporation (TSX:NVEI)
Nuvei Corporation is a tech-driven company offering payment-related solutions to customers. It operates in North America, Europe, Africa, and the Middle East. The US$ 5.15 billion company has an EPS of 0.53 and a P/E ratio of 68.
In the third quarter of fiscal 2022, Nuvei Corporation’s adjusted EBITDA grew to US$ 81.2 million from US$ 80.9 million in the same quarter the previous year.
The revenue of the company was up seven per cent in Q4 2022 to US$ 197.1 million compared to US $183.9 million in the year-ago quarter. It said that the revenue was impacted negatively by changes in foreign currency exchange rates YoY by US$ 11.5 million. Meanwhile, its adjusted net income slightly rose to US$ 62.4 million from US$ 62.3 million in the same comparative period in 2021.
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goeasy Ltd. (TSX:GSY)
Financial services company goeasy is a C$ 1.80 billion market company with a dividend yield of 3.308 per cent. The company paid a dividend of C$ 0.91 apiece on a quarterly basis. It has an EPS of 9.85 and a P/E ratio of 11.20.
Goeasy’s total same-store revenue growth in the third quarter of fiscal 2022 was 14.9 per cent. It served a total of 1.2 million customers in the quarter.
The financial company’s total assets in Q3 2022 were C$ 3.13 billion, an increase of 27 per cent compared to C$ 2.47 billion in the same period in 2021.
The revenue from its easyhome segment was mainly flat YoY and it was reported at C$ 37.3 million. In comparison, the revenue from its easyfinancial segment was C$ 225 million, which was up 24 per cent YoY.
Bottom line:
As a beginner, you can opt for long-term strategy and diversification. It will keep protecting your investment in the short term. Once you become a seasoned investor, you can make quick decisions depending on the present market situation.
Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
