Brookfield Corporation (NYSE:BN) Receives $56.91 Average PT from Brokerages

Shares of Brookfield Corporation (NYSE:BN) have been given a consensus recommendation of “Buy” by the fourteen brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $56.9091.

A number of equities research analysts have weighed in on the stock. TD Securities reissued a “buy” rating and set a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. JPMorgan Chase & Co. raised their price target on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating and set a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Royal Bank Of Canada reduced their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th.

Hedge Funds Weigh In On Brookfield

A number of hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC bought a new stake in Brookfield in the fourth quarter valued at approximately $26,000. Quattro Advisors LLC acquired a new stake in Brookfield during the 4th quarter valued at approximately $26,000. Truvestments Capital LLC raised its holdings in Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. New England Capital Financial Advisors LLC raised its holdings in Brookfield by 50.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares during the last quarter. Finally, Entrust Financial LLC acquired a new position in shares of Brookfield in the 4th quarter worth approximately $35,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

Shares of BN stock opened at $41.36 on Monday. The firm has a market capitalization of $101.41 billion, a price-to-earnings ratio of 75.20 and a beta of 1.54. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The business’s 50-day moving average price is $43.01 and its 200-day moving average price is $43.66. Brookfield has a 12 month low of $37.93 and a 12 month high of $49.56.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. Equities research analysts forecast that Brookfield will post 2.93 EPS for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, September 14th. Brookfield’s payout ratio is 50.91%.

About Brookfield

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.