Brookfield (NYSE:BN) PT Raised to $63.00

Brookfield (NYSE:BN) had its target price increased by research analysts at TD Securities from $62.00 to $63.00 in a report released on Monday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price indicates a potential upside of 42.12% from the company’s current price.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada cut their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday. Keefe, Bruyette & Woods raised their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Scotiabank lifted their target price on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.88.

Brookfield Stock Down 1.3 %

Shares of BN stock traded down $0.59 on Monday, hitting $44.33. The stock had a trading volume of 595,981 shares, compared to its average volume of 3,207,565. The business has a 50 day moving average of $43.76 and a 200 day moving average of $42.24. The stock has a market cap of $72.86 billion, a price-to-earnings ratio of 72.89 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 12-month low of $28.84 and a 12-month high of $49.44.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating 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 company had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, analysts expect that Brookfield will post 3.35 EPS for the current year.

Insider Activity

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Brookfield

Hedge funds have recently bought and sold shares of the business. Blacksheep Fund Management Ltd purchased a new position in Brookfield in the 4th quarter worth about $101,800,000. Choreo LLC purchased a new stake in shares of Brookfield during the 4th quarter valued at about $754,000. American National Bank & Trust Co. VA purchased a new stake in shares of Brookfield during the 1st quarter valued at about $5,716,000. M&G Plc purchased a new stake in shares of Brookfield during the 1st quarter valued at about $111,222,000. Finally, Norges Bank purchased a new stake in shares of Brookfield during the 4th quarter valued at about $614,104,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

About Brookfield

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.