Brookfield (NYSE:BN) Rating Lowered to Strong Sell at Zacks Research

Brookfield (NYSE:BN) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

Other analysts also recently issued reports about the company. Morgan Stanley set a $59.00 target price on Brookfield and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Monday, September 21st. Scotia lifted their target price on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. Scotiabank reiterated an “outperform” rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Finally, TD upped their price objective on Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield Trading Up 2.4%

BN opened at $37.33 on Monday. The stock has a market cap of $91.52 billion, a PE ratio of 67.86 and a beta of 1.56. The business has a 50 day moving average of $38.92 and a 200-day moving average of $42.36. Brookfield has a 52 week low of $35.61 and a 52 week high of $49.56. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Equities research analysts predict that Brookfield will post 2.88 earnings per share for the current fiscal year.

Institutional Trading of Brookfield

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meadow Creek Wealth Advisors LLC boosted its position in shares of Brookfield by 2.3% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock valued at $417,000 after acquiring an additional 234 shares during the last quarter. State of Wyoming raised its position in Brookfield by 6.0% during the first quarter. State of Wyoming now owns 5,151 shares of the company’s stock valued at $208,000 after purchasing an additional 290 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Brookfield by 2.6% during the 2nd quarter. Central Pacific Bank Trust Division now owns 11,800 shares of the company’s stock valued at $503,000 after purchasing an additional 300 shares during the last quarter. West Family Investments Inc. boosted its stake in Brookfield by 4.0% during the second quarter. West Family Investments Inc. now owns 7,890 shares of the company’s stock worth $336,000 after buying an additional 304 shares during the period. Finally, Gould Asset Management LLC CA increased its position in Brookfield by 3.6% during the first quarter. Gould Asset Management LLC CA now owns 8,834 shares of the company’s stock valued at $358,000 after acquiring an additional 310 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

About Brookfield

Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.