Brookfield Corporation (NYSE:BN) Receives $75.70 Average Target Price from Analysts

Shares of Brookfield Corporation (NYSE:BN) have received a consensus rating of “Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $76.70.

BN has been the subject of several analyst reports. National Bank Financial initiated coverage on Brookfield in a research note on Tuesday, July 29th. They issued an “outperform” rating and a $82.00 price objective for the company. Scotiabank raised their price target on Brookfield from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. TD Securities boosted their price objective on shares of Brookfield from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. National Bankshares set a $82.00 target price on shares of Brookfield and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada raised their target price on shares of Brookfield from $81.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, August 8th.

Brookfield Trading Up 0.9%

Shares of Brookfield stock opened at $68.76 on Friday. The firm has a market cap of $113.40 billion, a price-to-earnings ratio of 159.91 and a beta of 1.75. The business has a 50-day moving average price of $67.12 and a 200-day moving average price of $60.65. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. Brookfield has a twelve month low of $43.61 and a twelve month high of $74.20.

Shares of Brookfield are set to split on the morning of Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly issued shares will be issued to shareholders after the closing bell on Thursday, October 9th.

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

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, September 12th were given 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 was Friday, September 12th. Brookfield’s payout ratio is 83.72%.

Institutional Trading of Brookfield

A number of large investors have recently made changes to their positions in BN. Norges Bank bought a new stake in Brookfield during the 2nd quarter valued at about $1,040,160,000. Pershing Square Capital Management L.P. raised its stake in shares of Brookfield by 17.5% during the first quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock valued at $2,149,054,000 after acquiring an additional 6,111,593 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in shares of Brookfield in the second quarter valued at approximately $347,683,000. Canada Pension Plan Investment Board grew its stake in Brookfield by 132.5% in the second quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock worth $405,065,000 after purchasing an additional 3,727,628 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Brookfield by 83.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,699,178 shares of the company’s stock worth $403,514,000 after purchasing an additional 3,500,003 shares during the period. 61.60% of the stock is 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.