Brookfield Co. (NYSE:BN) Plans Quarterly Dividend of $0.08

Brookfield Co. (NYSE:BN) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Shareholders of record on Thursday, September 12th will be given a dividend of 0.08 per share on Friday, September 27th. This represents a $0.32 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, September 12th.

Brookfield has decreased its dividend by an average of 16.4% annually over the last three years. Brookfield has a payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Brookfield to earn $4.29 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.5%.

Brookfield Trading Down 0.6 %

Shares of NYSE:BN opened at $46.98 on Wednesday. The stock has a 50 day moving average of $46.42 and a 200 day moving average of $43.39. The company has a market cap of $77.22 billion, a PE ratio of 77.44 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 posted its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The business had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts expect that Brookfield will post 3.84 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BN. JPMorgan Chase & Co. boosted their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, Scotiabank upped their target price on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.84.

About Brookfield

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.