Brookfield Corporation (NYSE:BN) Stock Has Average Price Target of $57.40

Brookfield Corporation (NYSE:BN) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $57.40.

A number of research firms have issued reports on BN. Scotia boosted their target price on shares of Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. Zacks Research lowered shares of Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. TD boosted their price objective on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Morgan Stanley set a $59.00 target price on Brookfield and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Scotiabank reaffirmed an “outperform” rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th.

Brookfield Stock Performance

BN stock opened at $42.98 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. The stock has a market capitalization of $105.42 billion, a price-to-earnings ratio of 78.15 and a beta of 1.53. Brookfield has a 1 year low of $35.61 and a 1 year high of $49.56. The stock’s fifty day moving average is $38.22 and its two-hundred day moving average is $42.44.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. On average, research analysts predict that Brookfield will post 2.88 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield’s dividend payout ratio (DPR) is 50.91%.

Institutional Investors Weigh In On Brookfield

Several institutional investors have recently bought and sold shares of the stock. Bank of Nova Scotia boosted its holdings in shares of Brookfield by 11.4% in the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock valued at $621,443,000 after acquiring an additional 1,575,668 shares in the last quarter. Madison Asset Management LLC bought a new stake in Brookfield during the second quarter worth approximately $55,655,000. WCM Investment Management LLC raised its holdings in Brookfield by 454.4% during the first quarter. WCM Investment Management LLC now owns 1,103,817 shares of the company’s stock worth $42,740,000 after purchasing an additional 904,701 shares in the last quarter. Nykredit A S bought a new stake in Brookfield during the second quarter worth approximately $23,546,000. Finally, TD Waterhouse Canada Inc. lifted its position in Brookfield by 3.6% in the third quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company’s stock worth $522,741,000 after purchasing an additional 495,666 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors.

The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.

Brookfield traces its origins to 1899, when its predecessor, Brazilian Traction, Light and Power Company, was established to develop electricity and transportation services in Brazil.