Brokerages Set Brookfield Co. (NYSE:BN) Target Price at $64.00

Brookfield Co. (NYSE:BN) has earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $64.00.

Several research analysts recently weighed in on BN shares. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Scotiabank boosted their target price on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Morgan Stanley started coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. CIBC boosted their target price 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. Finally, TD Securities boosted their target price on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BN. Norges Bank acquired a new position in shares of Brookfield during the 4th quarter valued at about $973,591,000. Baillie Gifford & Co. increased its stake in shares of Brookfield by 809.5% during the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after acquiring an additional 3,271,403 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after purchasing an additional 2,818,716 shares during the period. Regents of The University of California purchased a new stake in shares of Brookfield during the 4th quarter worth about $154,140,000. Finally, Geode Capital Management LLC grew its holdings in shares of Brookfield by 32.0% during the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock worth $460,489,000 after purchasing an additional 1,930,218 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Brookfield stock opened at $58.68 on Thursday. Brookfield has a 52 week low of $38.18 and a 52 week high of $62.78. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The firm’s 50-day simple moving average is $58.54 and its 200 day simple moving average is $55.07. The firm has a market capitalization of $96.59 billion, a PE ratio of 195.60 and a beta of 1.57.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. On average, equities research analysts predict that Brookfield will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, March 14th. Brookfield’s dividend payout ratio is currently 106.67%.

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.