Brookfield Corporation (NYSE:BN) Given Average Rating of “Buy” by Analysts

Brookfield Corporation (NYSE:BN) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $75.70.

A number of brokerages have recently issued reports on BN. The Goldman Sachs Group began coverage on shares of Brookfield in a report on Tuesday, September 2nd. They issued a “buy” rating and a $78.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Brookfield from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, August 12th. Scotiabank raised their target price on shares of Brookfield from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Morgan Stanley restated an “overweight” rating on shares of Brookfield in a report on Monday, May 19th. Finally, National Bank Financial initiated coverage on shares of Brookfield in a report on Tuesday, July 29th. They set an “outperform” rating and a $82.00 target price for the company.

Brookfield Stock Down 0.0%

Shares of Brookfield stock opened at $66.53 on Monday. The company has a market cap of $109.71 billion, a P/E ratio of 154.72 and a beta of 1.73. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29. Brookfield has a one year low of $43.61 and a one year high of $68.75. The firm has a fifty day moving average of $65.39 and a two-hundred day moving average of $58.53.

Brookfield shares are going to split on the morning of Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly minted shares will be payable to shareholders after the market closes on Thursday, October 9th.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. On average, analysts forecast that Brookfield will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 12th. Brookfield’s dividend payout ratio (DPR) is currently 83.72%.

Institutional Investors Weigh In On Brookfield

Several hedge funds have recently modified their holdings of BN. Cary Street Partners Financial LLC purchased a new position in Brookfield in the fourth quarter valued at approximately $273,000. CoreCap Advisors LLC bought a new stake in shares of Brookfield in the fourth quarter worth $29,000. EP Wealth Advisors LLC bought a new stake in shares of Brookfield in the fourth quarter worth $305,000. Deutsche Bank AG increased its stake in shares of Brookfield by 10.3% in the fourth quarter. Deutsche Bank AG now owns 1,722,720 shares of the company’s stock worth $98,970,000 after buying an additional 160,841 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Brookfield by 426.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 23,700 shares of the company’s stock worth $1,361,000 after purchasing an additional 19,200 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

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.