Brookfield (NYSE:BN) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Brookfield Corporation (NYSE:BN)’s stock price crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $42.47 and traded as low as $41.24. Brookfield shares last traded at $41.7330, with a volume of 4,631,565 shares traded.

Wall Street Analyst Weigh In

BN has been the topic of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating and set a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. TD lifted their price target on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note 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 report on Tuesday, July 21st. Zacks Research downgraded shares of Brookfield from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.40.

Brookfield Stock Performance

The business has a 50-day moving average of $38.19 and a 200 day moving average of $42.47. 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 cap of $102.35 billion, a PE ratio of 75.88 and a beta of 1.53.

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

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 14th. Brookfield’s dividend payout ratio is 50.91%.

Institutional Trading of Brookfield

Large investors have recently added to or reduced their stakes in the business. Meadow Creek Wealth Advisors LLC raised its position in shares of Brookfield by 2.3% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock valued at $417,000 after buying an additional 234 shares during the last quarter. State of Wyoming boosted its position in shares of Brookfield by 6.0% during the first quarter. State of Wyoming now owns 5,151 shares of the company’s stock worth $208,000 after acquiring an additional 290 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Brookfield by 2.6% during the second quarter. Central Pacific Bank Trust Division now owns 11,800 shares of the company’s stock worth $503,000 after acquiring an additional 300 shares during the last quarter. West Family Investments Inc. boosted its position in shares of Brookfield by 4.0% during the second quarter. West Family Investments Inc. now owns 7,890 shares of the company’s stock worth $336,000 after acquiring an additional 304 shares during the last quarter. Finally, Gould Asset Management LLC CA boosted its position in shares of Brookfield by 3.6% during the first quarter. Gould Asset Management LLC CA now owns 8,834 shares of the company’s stock worth $358,000 after acquiring an additional 310 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

About Brookfield

Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.