Royal Bank Of Canada Issues Pessimistic Forecast for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BNGet Free Report) had its target price cut by research analysts at Royal Bank Of Canada from $63.00 to $61.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 33.08% from the stock’s current price.

BN has been the subject of several other research reports. JPMorgan Chase & Co. lifted their target price on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday. Morgan Stanley restated an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Scotiabank lowered their price target on Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a research report on Wednesday, March 25th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, National Bank Financial increased their target price on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.17.

Get Our Latest Research Report on Brookfield

Brookfield Stock Performance

NYSE BN opened at $45.84 on Friday. Brookfield has a fifty-two week low of $37.54 and a fifty-two week high of $49.56. The firm has a market capitalization of $112.34 billion, a P/E ratio of 94.68 and a beta of 1.55. The stock’s fifty day moving average is $42.73 and its two-hundred day moving average is $44.94. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32.

Brookfield (NYSE:BNGet Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. On average, research analysts anticipate that Brookfield will post 2.94 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in shares of Brookfield by 147.5% in the 1st quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after acquiring an additional 11,069 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock worth $130,000 after buying an additional 295 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Brookfield by 32.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after purchasing an additional 1,396 shares in the last quarter. AXA S.A. boosted its holdings in Brookfield by 42.2% during the second quarter. AXA S.A. now owns 103,531 shares of the company’s stock worth $6,403,000 after buying an additional 30,703 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Brookfield by 29.6% during the second quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock worth $1,577,000 after buying an additional 5,821 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Key Stories Impacting Brookfield

Here are the key news stories impacting Brookfield this week:

Brookfield Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Brookfield (NYSE:BN)

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