Brookfield (NYSE:BN) Price Target Cut to $51.00 by Analysts at Royal Bank of Canada (2024)

Brookfield (NYSE:BN – Free Report) had its price target cut by Royal Bank of Canada from $53.00 to $51.00 in a research note published on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently weighed in on BN. JPMorgan Chase & Co. upped their target price on Brookfield from $48.00 to $52.00 and gave the stock an overweight rating in a report on Thursday, February 1st. TheStreet upgraded shares of Brookfield from a c rating to a b rating in a report on Thursday, February 8th. Canaccord Genuity Group increased their price objective on shares of Brookfield from $41.00 to $42.50 and gave the company a hold rating in a research note on Friday, February 9th. CIBC boosted their price objective on shares of Brookfield from $46.00 to $52.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Finally, 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 research report on Sunday, February 11th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield presently has an average rating of Moderate Buy and a consensus price target of $47.25.

Read Our Latest Research Report on BN

Brookfield Stock Performance

BN stock opened at $41.65 on Monday. The business’s fifty day simple moving average is $40.83 and its two-hundred day simple moving average is $38.16. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35. The firm has a market cap of $68.39 billion, a price-to-earnings ratio of 67.18 and a beta of 1.48. Brookfield has a twelve month low of $28.84 and a twelve month high of $43.17.

Brookfield (NYSE:BN – Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The company had revenue of $24.52 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $1.12 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts predict that Brookfield will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.77%. This is an increase from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 12th. Brookfield’s payout ratio is 51.61%.

Insider Buying and Selling at Brookfield

In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the sale, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the 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 document filed with the SEC, which is available through this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction dated 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 sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brookfield

Institutional investors have recently bought and sold shares of the business. Rinkey Investments acquired a new stake in shares of Brookfield in the first quarter worth $525,000. Value Partners Investments Inc. raised its stake in shares of Brookfield by 11.4% during the 1st quarter. Value Partners Investments Inc. now owns 21,740 shares of the company’s stock valued at $910,000 after buying an additional 2,232 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in shares of Brookfield by 100.3% in the 1st quarter. Pittenger & Anderson Inc. now owns 1,238 shares of the company’s stock valued at $52,000 after buying an additional 620 shares during the period. Quent Capital LLC boosted its stake in shares of Brookfield by 99.8% in the first quarter. Quent Capital LLC now owns 3,604 shares of the company’s stock worth $151,000 after buying an additional 1,800 shares during the last quarter. Finally, BNP Paribas acquired a new stake in Brookfield during the first quarter worth about $7,934,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Company Profile

(Get Free Report)

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.

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