Brookfield (NYSE:BN) Stock Bumped Down to Strong Sell by Zacks Research

Zacks Research lowered shares of Brookfield (NYSE:BN) from a hold rating to a strong sell rating in a research note released on Monday,Zacks reports.

A number of other brokerages also recently issued reports on BN. Morgan Stanley set a $59.00 price target on Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. Scotia raised their price objective on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. TD raised their price objective on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Scotiabank restated an “outperform” rating and set a $54.00 price objective (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $57.40.

Brookfield Trading Up 2.4%

NYSE:BN opened at $37.33 on Monday. The stock has a 50-day simple moving average of $38.92 and a 200-day simple moving average of $42.36. The stock has a market cap of $91.52 billion, a P/E ratio of 67.86 and a beta of 1.56. Brookfield has a 1 year low of $35.61 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. As a group, analysts anticipate that Brookfield will post 2.88 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Brookfield’s dividend payout ratio (DPR) is presently 50.91%.

Institutional Trading of Brookfield

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cardinal Capital Management Inc. increased its holdings in shares of Brookfield by 2.5% in the second quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company’s stock valued at $138,287,000 after purchasing an additional 80,738 shares during the period. Headlands Technologies LLC raised its stake in shares of Brookfield by 181.4% during the second quarter. Headlands Technologies LLC now owns 91,785 shares of the company’s stock worth $3,909,000 after purchasing an additional 59,166 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Brookfield by 520.1% during the second quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company’s stock worth $2,031,000 after purchasing an additional 39,994 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Brookfield by 1.8% during the second quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock worth $595,676,000 after purchasing an additional 248,479 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Brookfield during the second quarter worth $5,498,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Company Profile

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.