Brookfield (NYSE:BN) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Brookfield (NYSE:BN) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other brokerages have also weighed in on BN. Scotiabank cut their target price on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 7th. CIBC dropped their price target on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. dropped their price target on Brookfield from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley restated an “overweight” rating on shares of Brookfield in a research note on Monday, May 19th. Finally, TD Securities dropped their price target on Brookfield from $77.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Brookfield Price Performance

Shares of NYSE BN opened at $57.80 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. Brookfield has a fifty-two week low of $39.97 and a fifty-two week high of $62.78. The firm has a market capitalization of $95.23 billion, a PE ratio of 192.67 and a beta of 1.64. The stock’s 50-day simple moving average is $53.51 and its 200-day simple moving average is $56.18.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.08. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. As a group, equities research analysts forecast that Brookfield will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.62%. Brookfield’s dividend payout ratio (DPR) is currently 128.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CoreCap Advisors LLC purchased a new position in shares of Brookfield in the 4th quarter valued at approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Brookfield in the first quarter valued at approximately $26,000. Compass Planning Associates Inc purchased a new stake in shares of Brookfield in the fourth quarter valued at approximately $30,000. North Capital Inc. purchased a new stake in shares of Brookfield in the first quarter valued at approximately $27,000. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of Brookfield in the first quarter valued at approximately $28,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

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.