Scotiabank Issues Positive Forecast for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BN) had its price objective upped by Scotiabank from $51.25 to $65.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. Scotiabank currently has an outperform rating on the stock.

BN has been the subject of a number of other reports. BMO Capital Markets upped their target price on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada dropped their price objective on shares of 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 upped their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. TD Securities lifted their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. raised their target price on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

Brookfield Stock Up 0.3 %

Brookfield stock opened at $53.15 on Wednesday. The firm has a market cap of $87.50 billion, a price-to-earnings ratio of 91.64 and a beta of 1.54. The firm has a fifty day moving average price of $51.82 and a two-hundred day moving average price of $46.46. Brookfield has a fifty-two week low of $31.05 and a fifty-two week high of $56.83. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating 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 quarter in the prior year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, analysts forecast that Brookfield will post 3.81 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. Brookfield’s payout ratio is presently 55.17%.

Institutional Investors Weigh In On Brookfield

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Brookfield in the second quarter valued at about $128,321,000. M&G Plc acquired a new position in shares of Brookfield in the first quarter valued at approximately $111,222,000. Capital World Investors increased its position in shares of Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after acquiring an additional 2,497,509 shares in the last quarter. Wulff Hansen & CO. raised its holdings in shares of Brookfield by 4,054.0% during the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock worth $64,076,000 after acquiring an additional 1,505,372 shares during the period. Finally, Vanguard Group Inc. lifted its position in Brookfield by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after acquiring an additional 1,063,110 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

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.