Brookfield (NYSE:BN) Price Target Raised to $65.00

Brookfield (NYSE:BN) had its price objective hoisted by Scotiabank from $51.25 to $65.00 in a report released on Wednesday morning, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. TD Securities upped their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods upped their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, BMO Capital Markets raised their target price on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.31.

Brookfield Price Performance

NYSE BN opened at $53.14 on Wednesday. The company has a market cap of $87.48 billion, a PE ratio of 91.62 and a beta of 1.54. Brookfield has a 52 week low of $31.05 and a 52 week high of $56.83. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The firm’s 50-day simple moving average is $51.82 and its two-hundred day simple moving average is $46.46.

Brookfield (NYSE:BN) last released its quarterly earnings data 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 1.13% and a return on equity of 3.67%. The business had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. Research analysts predict that Brookfield will post 3.81 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a $0.08 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.60%. Brookfield’s dividend payout ratio (DPR) is presently 55.17%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BN. SG Americas Securities LLC purchased a new stake in Brookfield during the second quarter valued at about $128,321,000. M&G Plc purchased a new stake in Brookfield during the first quarter valued at about $111,222,000. Capital World Investors boosted its position in Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after buying an additional 2,497,509 shares during the period. Wulff Hansen & CO. boosted its position in Brookfield by 4,054.0% during the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after buying an additional 1,505,372 shares during the period. Finally, Vanguard Group Inc. boosted its position in Brookfield by 1.9% during the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after buying an additional 1,063,110 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

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.