Brookfield (NYSE:BN – Get Free Report) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.
Several other brokerages have also commented on BN. Scotiabank reaffirmed an “outperform” rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. BMO Capital Markets upgraded Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Monday, September 21st. Finally, TD lifted their price objective on Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, August 14th. One research 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 issued a Sell rating to the stock. According to MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.
Get Our Latest Stock Report on BN
Brookfield Trading Up 2.4%
BN stock opened at $37.33 on Monday. Brookfield has a 1-year low of $35.61 and a 1-year high of $49.56. The firm has a market cap of $91.52 billion, a P/E ratio of 67.86 and a beta of 1.56. The business’s 50 day moving average is $38.92 and its 200-day moving average is $42.36. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54.
Brookfield (NYSE:BN – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. Equities analysts anticipate that Brookfield will post 2.88 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Brookfield
A number of hedge funds have recently added to or reduced their stakes in BN. Fortitude Family Office LLC bought a new position in shares of Brookfield in the third quarter worth about $26,000. Silicon Valley Capital Partners bought a new stake in shares of Brookfield during the second quarter valued at approximately $32,000. Virginia Estate & Retirement Planning Advisors Inc. bought a new stake in shares of Brookfield during the third quarter valued at approximately $46,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Brookfield by 203.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company’s stock valued at $50,000 after purchasing an additional 824 shares during the last quarter. Finally, First Horizon Corp increased its holdings in shares of Brookfield by 71.0% in the first quarter. First Horizon Corp now owns 1,553 shares of the company’s stock valued at $63,000 after purchasing an additional 645 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.
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.
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