Brookfield (NYSE:BN) Stock Price Target Cut by Royal Bank Of Canada

Brookfield (NYSE:BN) had its price objective dropped by equities research analysts at Royal Bank Of Canada from $61.00 to $59.00 in a research report issued on Friday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s target price would indicate a potential upside of 43.99% from the company’s previous close.

BN has been the topic of several other reports. Morgan Stanley set a $59.00 price target on Brookfield and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Monday, September 21st. Zacks Research downgraded Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. TD upped their target price on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Scotia raised their target price on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.11.

Brookfield Stock Performance

Shares of NYSE:BN traded down $0.67 during midday trading on Friday, reaching $40.97. The company’s stock had a trading volume of 3,516,641 shares, compared to its average volume of 5,157,796. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The stock has a fifty day moving average of $38.34 and a 200 day moving average of $42.33. Brookfield has a twelve month low of $35.61 and a twelve month high of $49.56. The firm has a market capitalization of $100.49 billion, a PE ratio of 40.57 and a beta of 1.53.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, November 12th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.87 billion. Brookfield had a net margin of 3.19% and a return on equity of 4.06%. On average, equities analysts expect that Brookfield will post 2.88 EPS for the current fiscal year.

Institutional Trading of Brookfield

A number of hedge funds have recently added to or reduced their stakes in BN. Tocqueville Asset Management L.P. increased its holdings in Brookfield by 4.0% in the third quarter. Tocqueville Asset Management L.P. now owns 79,792 shares of the company’s stock valued at $2,909,000 after buying an additional 3,080 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Brookfield by 3.6% in the third quarter. Steward Partners Investment Advisory LLC now owns 87,897 shares of the company’s stock worth $3,205,000 after acquiring an additional 3,022 shares during the period. Insigneo Advisory Services LLC raised its position in shares of Brookfield by 5.6% in the third quarter. Insigneo Advisory Services LLC now owns 10,499 shares of the company’s stock worth $384,000 after acquiring an additional 560 shares during the period. Xcelsior Advisor Partners LLC boosted its stake in shares of Brookfield by 221.5% during the 3rd quarter. Xcelsior Advisor Partners LLC now owns 21,870 shares of the company’s stock worth $797,000 after acquiring an additional 15,068 shares in the last quarter. Finally, Novare Capital Management LLC acquired a new stake in shares of Brookfield during the 3rd quarter valued at about $242,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Latest Brookfield News

Here’s some of the latest news about BN:

• Positive Sentiment: Brookfield reported third-quarter EPS of $0.73, beating the $0.68 consensus, and distributable earnings per share rose 16%. Trailing-12-month distributable earnings before realizations reached a record $5.8 billion. The company also reported $1.9 billion in quarterly net income. Brookfield Corporation Reports 16% Increase in Earnings
• Positive Sentiment: Brookfield repurchased about $900 million of its shares year to date, providing a source of shareholder support. Brookfield Corporation Reports 16% Increase in Earnings
• Neutral Sentiment: The company declared a quarterly dividend of $0.07 per share, equivalent to $0.28 annually. The dividend is modest relative to the share price.

About Brookfield

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors. The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.