Brookfield (NYSE:BN) Price Target Raised to $63.00
by Teresa Graham · The Cerbat GemBrookfield (NYSE:BN – Free Report) had its price objective boosted by Royal Bank Of Canada from $60.00 to $63.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.
Several other brokerages have also recently issued reports on BN. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a research note on Tuesday, February 17th. BMO Capital Markets upped their price objective on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Scotiabank dropped their price objective on shares of Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a research note on Wednesday, March 25th. Finally, National Bank Financial upped their price objective on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.65.
Check Out Our Latest Stock Analysis on BN
Brookfield Stock Down 0.5%
Shares of NYSE BN opened at $46.22 on Monday. Brookfield has a 12-month low of $33.88 and a 12-month high of $49.56. The stock has a market cap of $113.27 billion, a PE ratio of 93.69 and a beta of 1.56. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average of $42.77 and a 200 day moving average of $44.87.
Brookfield (NYSE:BN – Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. As a group, sell-side analysts predict that Brookfield will post 2.96 EPS for the current fiscal year.
Brookfield Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 17th. This is an increase from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio is 57.14%.
Hedge Funds Weigh In On Brookfield
A number of hedge funds have recently made changes to their positions in the stock. Chemistry Wealth Management LLC lifted its holdings in Brookfield by 51.6% during the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after buying an additional 148,893 shares in the last quarter. Triasima Portfolio Management inc. lifted its holdings in Brookfield by 9.0% during the 3rd quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company’s stock worth $19,825,000 after buying an additional 23,923 shares in the last quarter. PCJ Investment Counsel Ltd. lifted its holdings in Brookfield by 110.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after buying an additional 122,040 shares in the last quarter. Florida Trust Wealth Management Co lifted its holdings in Brookfield by 49.0% during the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after buying an additional 387,068 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Brookfield by 49.5% during the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after buying an additional 221,078 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.
Brookfield Company Profile
Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.
Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.