Brookfield (NYSE:BN) Stock Price Expected to Rise, Scotiabank Analyst Says

Brookfield (NYSE:BN) had its target price boosted by stock analysts at Scotiabank from $51.25 to $65.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 20.35% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. TD Securities boosted their target price on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets boosted their price objective on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.31.

Brookfield Stock Up 0.7 %

BN traded up $0.36 during trading hours on Wednesday, hitting $54.01. 652,462 shares of the company’s stock were exchanged, compared to its average volume of 2,843,180. The firm has a market cap of $88.92 billion, a P/E ratio of 93.48 and a beta of 1.54. Brookfield has a 12-month low of $28.84 and a 12-month high of $56.83. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average of $51.48 and a 200 day moving average of $46.26.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The company had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company earned $0.75 EPS. Brookfield’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts predict that Brookfield will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Kings Path Partners LLC acquired a new stake in shares of Brookfield in the second quarter valued at about $31,000. Family Firm Inc. purchased a new stake in shares of Brookfield during the 2nd quarter valued at about $36,000. Nisa Investment Advisors LLC lifted its position in Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after acquiring an additional 450 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its holdings in Brookfield by 100.3% in the 1st quarter. Pittenger & Anderson Inc. now owns 1,238 shares of the company’s stock worth $52,000 after acquiring an additional 620 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

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.