Royal Bank of Canada Lowers Brookfield (NYSE:BN) Price Target to $56.00

Brookfield (NYSE:BN) had its price target reduced by investment analysts at Royal Bank of Canada from $57.00 to $56.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 24.67% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. TD Securities boosted their target price on shares of Brookfield from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Scotiabank upped their price objective on Brookfield from $49.50 to $50.50 and gave the company an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.78.

Brookfield Stock Up 1.1 %

Brookfield stock traded up $0.48 during mid-day trading on Friday, reaching $44.92. The stock had a trading volume of 1,905,807 shares, compared to its average volume of 3,224,635. The company has a market capitalization of $73.83 billion, a price-to-earnings ratio of 73.64 and a beta of 1.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.17 and a quick ratio of 1.02. Brookfield has a one year low of $28.84 and a one year high of $49.44. The company has a 50-day moving average price of $43.76 and a two-hundred day moving average price of $42.22.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The firm had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. On average, analysts expect that Brookfield will post 3.35 EPS for the current fiscal year.

Insider Buying and Selling at Brookfield

In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.00% of the company’s stock.

Institutional Trading of Brookfield

Several hedge funds have recently bought and sold shares of BN. Connectus Wealth LLC grew its holdings in shares of Brookfield by 1,049.1% in the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after purchasing an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC grew its position in Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares in the last quarter. Blue Trust Inc. increased its stake in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Brookfield in the 2nd quarter worth approximately $31,000. Finally, Allworth Financial LP increased its position in shares of Brookfield by 256.2% during the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after purchasing an additional 638 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.