Brookfield (NYSE:BN) Hits New 1-Year Low – Should You Sell?

Brookfield Corporation (NYSE:BN) shares hit a new 52-week low on Wednesday. The stock traded as low as $35.61 and last traded at $35.7770, with a volume of 3,579,276 shares trading hands. The stock had previously closed at $36.67.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BN. Scotia raised their price objective on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. Scotiabank reaffirmed an “outperform” rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield 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 note on Tuesday, July 21st. TD increased their target price on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, BMO Capital Markets upgraded Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Brookfield Trading Down 2.5%

The firm has a market capitalization of $87.68 billion, a price-to-earnings ratio of 65.01 and a beta of 1.56. 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 business has a fifty day moving average price of $39.69 and a 200 day moving average price of $42.47.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.66 billion. As a group, equities analysts forecast that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a yield of 0.8%. Brookfield’s dividend payout ratio is currently 50.91%.

Institutional Trading of Brookfield

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in Brookfield by 40.5% in the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock valued at $5,215,504,000 after buying an additional 32,760,558 shares during the period. First Manhattan CO. LLC. lifted its position in Brookfield by 47.5% during the fourth quarter. First Manhattan CO. LLC. now owns 23,795,141 shares of the company’s stock valued at $1,093,985,000 after buying an additional 7,662,565 shares in the last quarter. Bank of Nova Scotia lifted its position in Brookfield by 11.4% during the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock valued at $621,443,000 after buying an additional 1,575,668 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in Brookfield by 1.8% during the second quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock worth $595,676,000 after buying an additional 248,479 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Brookfield by 40.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,891,403 shares of the company’s stock worth $224,571,000 after acquiring an additional 1,399,216 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.