Brookfield Corporation (NYSE:BN) Given Average Rating of “Moderate Buy” by Brokerages

Brookfield Corporation (NYSE:BN) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $57.40.

BN has been the topic of a number of research analyst reports. Scotiabank reissued an “outperform” rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. TD raised their price objective on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Finally, BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a research note on Monday, July 27th.

Institutional Trading of Brookfield

Hedge funds have recently made changes to their positions in the company. Capital Research Global Investors grew its position in shares of Brookfield by 47.0% during the 4th quarter. Capital Research Global Investors now owns 2,134,876 shares of the company’s stock valued at $98,022,000 after purchasing an additional 682,137 shares in the last quarter. Cardinal Capital Management Inc. raised its position in shares of Brookfield by 2.5% in the second quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company’s stock worth $138,287,000 after buying an additional 80,738 shares in the last quarter. HighTower Advisors LLC boosted its stake in Brookfield by 38.5% during the fourth quarter. HighTower Advisors LLC now owns 233,889 shares of the company’s stock valued at $10,734,000 after buying an additional 65,070 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Brookfield during the second quarter worth about $5,498,000. Finally, Manitou Investment Management Ltd. grew its position in Brookfield by 49.5% during the second quarter. Manitou Investment Management Ltd. now owns 126,445 shares of the company’s stock worth $5,385,000 after buying an additional 41,845 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

Shares of Brookfield stock opened at $37.20 on Friday. The business’s fifty day simple moving average is $41.81 and its 200 day simple moving average is $42.91. The firm has a market capitalization of $91.22 billion, a P/E ratio of 67.65 and a beta of 1.53. Brookfield has a 12 month low of $36.67 and a 12 month high of $49.56. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54.

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

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, September 14th. Brookfield’s dividend payout ratio is 50.91%.

Brookfield Company Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.

Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.