Brookfield (NYSE:BN) Price Target Raised to $50.50 at Scotiabank

Brookfield (NYSE:BN) had its price objective raised by Scotiabank from $49.50 to $50.50 in a research report released on Thursday morning, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

BN has been the subject of a number of other reports. Royal Bank of Canada dropped their price objective on shares of Brookfield from $53.00 to $51.00 and set an outperform rating for the company in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an overweight rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods cut their target price on Brookfield from $46.00 to $44.00 and set a market perform rating on the stock in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $48.00.

Brookfield Price Performance

BN traded down $2.30 during trading hours on Thursday, hitting $45.28. The company’s stock had a trading volume of 1,034,534 shares, compared to its average volume of 3,221,131. The stock has a market cap of $74.44 billion, a price-to-earnings ratio of 78.03 and a beta of 1.52. The business’s 50-day moving average price is $43.66 and its 200-day moving average price is $41.99. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35. Brookfield has a 12 month low of $28.84 and a 12 month high of $49.44.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $22.91 billion during the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same period in the previous year, the business posted $0.72 EPS. Sell-side analysts expect that Brookfield will post 3.35 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.71%. Brookfield’s dividend payout ratio is currently 52.46%.

Insiders Place Their Bets

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the sale, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brookfield

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. purchased a new stake in Brookfield in the 4th quarter valued at $525,000. Autumn Glory Partners LLC purchased a new stake in shares of Brookfield in the 4th quarter valued at approximately $246,000. International Assets Investment Management LLC purchased a new stake in shares of Brookfield during the 4th quarter valued at approximately $14,210,000. Financial Security Advisor Inc. purchased a new position in Brookfield in the fourth quarter worth approximately $201,000. Finally, Allworth Financial LP lifted its stake in shares of Brookfield by 256.2% in the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after purchasing an additional 638 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

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.