Brookfield (NYSE:BN) Price Target Cut to $61.00 by Analysts at Morgan Stanley

Brookfield (NYSE:BN) had its price target lowered by analysts at Morgan Stanley from $83.00 to $61.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 25.18% from the stock’s previous close.

BN has been the subject of a number of other research reports. Scotiabank reduced their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Monday, April 7th. TD Securities lifted their price objective on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, CIBC upped their target price on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.25.

Brookfield Stock Performance

Shares of NYSE:BN traded up $0.14 on Monday, hitting $48.73. 1,373,982 shares of the company were exchanged, compared to its average volume of 3,128,095. The stock’s 50 day moving average price is $54.22 and its 200 day moving average price is $56.05. Brookfield has a 1-year low of $38.18 and a 1-year high of $62.78. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $80.24 billion, a P/E ratio of 162.44 and a beta of 1.60.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Sell-side analysts predict that Brookfield will post 3.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. acquired a new position in Brookfield during the 1st quarter worth about $28,000. CoreCap Advisors LLC acquired a new position in shares of Brookfield in the fourth quarter valued at approximately $29,000. Compass Planning Associates Inc acquired a new stake in Brookfield during the 4th quarter worth approximately $30,000. Sunbelt Securities Inc. grew its stake in shares of Brookfield by 164.0% in the fourth quarter. Sunbelt Securities Inc. now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 451 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Brookfield by 2,029.3% during the first quarter. Versant Capital Management Inc now owns 873 shares of the company’s stock worth $46,000 after acquiring an additional 832 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

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.