Brookfield Corporation (NYSE:BN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Brookfield Corporation (NYSE:BN) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $57.40.

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

Brookfield Stock Down 0.4%

BN opened at $37.83 on Friday. Brookfield has a fifty-two week low of $36.67 and a fifty-two week high of $49.56. The business has a 50-day moving average of $41.46 and a 200-day moving average of $42.79. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The company has a market capitalization of $92.76 billion, a PE ratio of 68.79 and a beta of 1.53.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.66 billion. Equities research analysts forecast that Brookfield will post 2.93 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be given a $0.07 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield’s payout ratio is currently 50.91%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in Brookfield by 40.5% in the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after purchasing an additional 32,760,558 shares during the last quarter. Capital World Investors raised its position in shares of Brookfield by 45.0% in the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock valued at $4,546,443,000 after purchasing an additional 30,755,354 shares during the period. TD Asset Management Inc raised its position in shares of Brookfield by 46.3% in the fourth quarter. TD Asset Management Inc now owns 35,763,047 shares of the company’s stock valued at $1,644,200,000 after purchasing an additional 11,323,960 shares during the period. Akre Capital Management LLC lifted its stake in shares of Brookfield by 39.7% in the fourth quarter. Akre Capital Management LLC now owns 26,843,633 shares of the company’s stock worth $1,231,854,000 after buying an additional 7,627,692 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Brookfield in the fourth quarter worth $1,227,555,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

About Brookfield

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.