Brookfield (NYSE:BN) Price Target Raised to $65.00

Brookfield (NYSE:BN) had its target price upped by Scotiabank from $51.25 to $65.00 in a research report sent to investors on Wednesday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

BN has been the subject of a number of other research reports. Keefe, Bruyette & Woods boosted their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada lowered their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased 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. BMO Capital Markets lifted 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. Finally, TD Securities increased their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.31.

Brookfield Trading Up 0.3 %

Shares of BN stock opened at $53.15 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $87.50 billion, a price-to-earnings ratio of 91.64 and a beta of 1.54. The firm has a 50-day moving average price of $51.82 and a 200 day moving average price of $46.46. Brookfield has a twelve month low of $31.05 and a twelve month high of $56.83.

Brookfield (NYSE:BN) last released its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.78 by $0.57. The firm had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share. Research analysts forecast that Brookfield will post 3.81 earnings per share for the current fiscal year.

Brookfield Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BN. Vanguard Group Inc. raised its position in Brookfield by 1.9% during the first 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. Capital World Investors boosted its holdings in Brookfield by 5.1% in the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after purchasing an additional 2,497,509 shares in the last quarter. 1832 Asset Management L.P. increased its position in Brookfield by 1.3% during the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock worth $946,495,000 after buying an additional 299,029 shares during the last quarter. Cooke & Bieler LP raised its holdings in Brookfield by 5.0% during the second quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock valued at $236,727,000 after buying an additional 269,813 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Brookfield by 3.7% in the first quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock worth $134,629,000 after buying an additional 113,241 shares during the last quarter. Hedge funds and other institutional investors 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.