Royal Bank Of Canada Has Lowered Expectations for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BNGet Free Report) had its price objective cut by equities research analysts at Royal Bank Of Canada from $63.00 to $61.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 33.08% from the stock’s current price.

BN has been the topic of several other reports. National Bank Financial increased their target price on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Finally, Scotiabank dropped their price objective on shares of Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.17.

Check Out Our Latest Research Report on Brookfield

Brookfield Trading Down 3.6%

Shares of BN stock opened at $45.84 on Friday. The firm has a 50-day moving average price of $42.73 and a 200 day moving average price of $44.94. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $112.34 billion, a price-to-earnings ratio of 94.68 and a beta of 1.55. Brookfield has a twelve month low of $37.54 and a twelve month high of $49.56.

Brookfield (NYSE:BNGet Free Report) last released its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Research analysts forecast that Brookfield will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield

Large investors have recently added to or reduced their stakes in the company. Entropy Technologies LP purchased a new stake in Brookfield during the 1st quarter worth $7,288,000. Cannell & Spears LLC grew its stake in shares of Brookfield by 1.6% during the first quarter. Cannell & Spears LLC now owns 2,702,625 shares of the company’s stock valued at $109,278,000 after acquiring an additional 42,859 shares in the last quarter. Cloverfields Capital Group LP acquired a new stake in shares of Brookfield during the first quarter valued at about $5,033,000. Bank of Nova Scotia increased its position in shares of Brookfield by 11.4% during the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after acquiring an additional 1,575,668 shares during the last quarter. Finally, Gibbs Wealth Management lifted its stake in shares of Brookfield by 38.2% in the first quarter. Gibbs Wealth Management now owns 9,625 shares of the company’s stock worth $390,000 after acquiring an additional 2,659 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield News Summary

Here are the key news stories impacting Brookfield this week:

About Brookfield

(Get Free Report)

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.

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Analyst Recommendations for Brookfield (NYSE:BN)

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