Brookfield (NYSE:BN) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Brookfield (NYSE:BN) posted its earnings results on Thursday. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13, Zacks reports. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The firm had revenue of $22.91 billion during the quarter. During the same quarter in the prior year, the firm earned $0.72 earnings per share.

Brookfield Stock Down 0.1 %

Shares of BN traded down $0.03 during midday trading on Friday, reaching $44.22. The stock had a trading volume of 1,906,158 shares, compared to its average volume of 2,831,905. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99. The company’s fifty day simple moving average is $41.10 and its two-hundred day simple moving average is $38.59. The company has a market cap of $72.61 billion, a price-to-earnings ratio of 71.05 and a beta of 1.48. Brookfield has a 1-year low of $28.84 and a 1-year high of $44.50.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, June 13th. Brookfield’s dividend payout ratio is presently 51.61%.

Insider Buying and Selling at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the transaction, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BN. Royal Bank of Canada dropped their price target on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Canaccord Genuity Group upped their price target on shares of Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research report on Friday, February 9th. CIBC lifted their price objective on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. TD Securities increased their target price on Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a report on Sunday, February 11th. Finally, Scotiabank lowered their price target on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a research note on Friday. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $48.10.

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.