Scotiabank Has Lowered Expectations for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BN) had its price target cut by research analysts at Scotiabank from $71.00 to $68.00 in a note issued to investors on Monday, Marketbeat reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 52.43% from the company’s current price.

A number of other equities research analysts have also commented on the stock. CIBC upped their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. TD Securities increased their price target on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley assumed coverage on Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.63.

Brookfield Stock Performance

NYSE BN opened at $44.61 on Monday. The company has a market capitalization of $73.46 billion, a price-to-earnings ratio of 148.70 and a beta of 1.60. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield has a twelve month low of $38.18 and a twelve month high of $62.78. The stock has a fifty day simple moving average of $55.11 and a 200 day simple moving average of $56.15.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 expect that Brookfield will post 3.85 EPS for the current year.

Institutional Investors Weigh In On Brookfield

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its position in Brookfield by 10.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,460 shares of the company’s stock valued at $234,000 after purchasing an additional 423 shares during the period. Asset Management Advisors LLC grew its holdings in shares of Brookfield by 1.6% during the first quarter. Asset Management Advisors LLC now owns 228,963 shares of the company’s stock valued at $12,000,000 after buying an additional 3,690 shares during the last quarter. Pacifica Partners Inc. increased its position in shares of Brookfield by 8.1% during the first quarter. Pacifica Partners Inc. now owns 106,732 shares of the company’s stock worth $5,369,000 after acquiring an additional 7,961 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Brookfield by 6,011.4% in the 1st quarter. GAMMA Investing LLC now owns 119,600 shares of the company’s stock worth $6,268,000 after acquiring an additional 117,643 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Brookfield by 2,029.3% in the 1st quarter. Versant Capital Management Inc now owns 873 shares of the company’s stock valued at $46,000 after acquiring an additional 832 shares in the last quarter. 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.