Brookfield Co. (NYSE:BN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Brookfield Co. (NYSE:BN) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $51.59.

A number of analysts have recently commented on BN shares. BMO Capital Markets boosted their price target on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. upped 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. Royal Bank of Canada lowered their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Keefe, Bruyette & Woods upped their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, TD Securities upped their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th.

Brookfield Stock Performance

Shares of BN opened at $52.18 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average price is $47.46 and its 200-day moving average price is $43.89. Brookfield has a 52 week low of $28.84 and a 52 week high of $52.48. The stock has a market cap of $85.77 billion, a P/E ratio of 85.54 and a beta of 1.53.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts anticipate that Brookfield will post 3.84 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.61%. Brookfield’s payout ratio is 52.46%.

Hedge Funds Weigh In On Brookfield

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors increased its stake in shares of Brookfield by 102.2% in the 4th quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after purchasing an additional 24,975,364 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Brookfield by 16.2% in the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after purchasing an additional 3,702,266 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Brookfield in the 2nd quarter worth $128,321,000. M&G Plc purchased a new stake in shares of Brookfield in the 1st quarter worth $111,222,000. Finally, Blacksheep Fund Management Ltd purchased a new stake in shares of Brookfield in the 4th quarter worth $101,800,000. 61.60% of the stock is owned by institutional investors.

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.