Brookfield (NYSE:BN) Price Target Raised to $50.00

Brookfield (NYSE:BN) had its target price increased by BMO Capital Markets from $48.00 to $50.00 in a report released on Wednesday morning, MarketBeat reports. BMO Capital Markets currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Brookfield from $49.00 to $52.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods upped their price target on Brookfield from $44.00 to $46.00 and gave the stock a market perform rating in a research note on Friday, August 9th. Scotiabank upped their price target on Brookfield from $50.50 to $51.25 and gave the stock a sector outperform rating in a research note on Friday, August 9th. Royal Bank of Canada cut their price target on Brookfield from $57.00 to $56.00 and set an outperform rating on the stock in a research note on Friday, August 9th. Finally, TD Securities increased their target price on Brookfield from $62.00 to $63.00 and gave the company a buy rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $51.59.

Brookfield Stock Performance

Shares of Brookfield stock opened at $49.37 on Wednesday. The business’s fifty day simple moving average is $46.78 and its 200 day simple moving average is $43.52. The firm has a market capitalization of $81.18 billion, a P/E ratio of 80.94 and a beta of 1.53. Brookfield has a 12 month low of $28.84 and a 12 month high of $50.46. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, analysts anticipate that Brookfield will post 3.84 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is 52.46%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Blacksheep Fund Management Ltd acquired a new position in shares of Brookfield in the fourth quarter worth $101,800,000. American National Bank & Trust Co. VA purchased a new stake in shares of Brookfield during the 1st quarter worth $5,716,000. M&G Plc purchased a new stake in shares of Brookfield during the 1st quarter worth $111,222,000. Cetera Investment Advisers lifted its position in shares of Brookfield by 1,022.6% during the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after purchasing an additional 248,506 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Brookfield during the 4th quarter worth $614,104,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.