Brookfield Corporation (NYSE:BN – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $37.87 and last traded at $38.0240, with a volume of 645298 shares traded. The stock had previously closed at $38.52.
Wall Street Analyst Weigh In
BN has been the topic of several research reports. TD lifted their price target on Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Scotiabank reiterated an “outperform” rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. BMO Capital Markets raised Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. National Bank Financial boosted their target price on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, TD Securities reaffirmed a “buy” rating and issued a $60.00 target price on shares of Brookfield in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.40.
Read Our Latest Research Report on BN
Brookfield Price Performance
Brookfield (NYSE:BN – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. Research analysts predict that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.
Brookfield Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be issued a dividend of $0.07 per share. The ex-dividend date is Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio (DPR) is presently 50.91%.
Hedge Funds Weigh In On Brookfield
A number of hedge funds have recently bought and sold shares of BN. Capital Research Global Investors lifted its position in Brookfield by 47.0% in the 4th quarter. Capital Research Global Investors now owns 2,134,876 shares of the company’s stock valued at $98,022,000 after acquiring an additional 682,137 shares in the last quarter. Cardinal Capital Management Inc. increased its holdings in shares of Brookfield by 2.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company’s stock worth $138,287,000 after purchasing an additional 80,738 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Brookfield by 38.5% in the 4th quarter. HighTower Advisors LLC now owns 233,889 shares of the company’s stock worth $10,734,000 after purchasing an additional 65,070 shares in the last quarter. Barr E S & Co. increased its holdings in shares of Brookfield by 48.3% in the 4th quarter. Barr E S & Co. now owns 916,671 shares of the company’s stock worth $42,066,000 after purchasing an additional 298,380 shares in the last quarter. Finally, HughesLittle Investment Management Ltd. raised its stake in shares of Brookfield by 47.2% in the fourth quarter. HughesLittle Investment Management Ltd. now owns 1,542,185 shares of the company’s stock worth $70,909,000 after purchasing an additional 494,461 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.
Brookfield Company Profile
Brookfield Corporation (NYSE: BN) is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.
Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.
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