Brookfield (NYSE:BN) Cut to Sell at Wall Street Zen

Brookfield (NYSE:BN) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

BN has been the subject of a number of other research reports. Morgan Stanley reiterated an “overweight” rating on shares of Brookfield in a research note on Monday, May 19th. Scotiabank reduced their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Monday, April 7th. CIBC reduced their price objective on Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. reduced their price objective on Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, TD Securities reduced their price objective on Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Brookfield Stock Performance

Shares of BN opened at $57.80 on Friday. The stock has a 50-day moving average of $53.51 and a two-hundred day moving average of $56.16. Brookfield has a one year low of $39.97 and a one year high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The stock has a market cap of $95.23 billion, a P/E ratio of 192.67 and a beta of 1.64.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. As a group, research analysts predict that Brookfield will post 3.85 EPS for the current year.

Hedge Funds Weigh In On Brookfield

Institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC purchased a new position in shares of Brookfield in the 4th quarter valued at about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Brookfield in the 1st quarter valued at about $26,000. Compass Planning Associates Inc purchased a new position in shares of Brookfield in the 4th quarter valued at about $30,000. North Capital Inc. purchased a new position in shares of Brookfield in the 1st quarter valued at about $27,000. Finally, ST Germain D J Co. Inc. purchased a new position in shares of Brookfield in the 1st quarter valued at about $28,000. 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.