Brookfield (NYSE:BN) Price Target Increased to $50.50 by Analysts at Scotiabank

Brookfield (NYSE:BN) had its price target increased by stock analysts at Scotiabank from $49.50 to $50.50 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 6.68% from the stock’s previous close.

Several other equities research analysts have also recently commented on BN. Keefe, Bruyette & Woods cut their price target on shares of Brookfield from $46.00 to $44.00 and set a “market perform” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada dropped their target price on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Brookfield Price Performance

Shares of NYSE:BN traded down $1.41 during trading on Thursday, reaching $47.34. The stock had a trading volume of 1,361,328 shares, compared to its average volume of 3,225,551. Brookfield has a 52 week low of $28.84 and a 52 week high of $49.44. The business’s 50-day moving average price is $43.59 and its 200 day moving average price is $41.95. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.17 and a quick ratio of 1.02. The stock has a market capitalization of $77.83 billion, a PE ratio of 77.61 and a beta of 1.52.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The firm had revenue of $22.91 billion during the quarter. During the same quarter last year, the firm earned $0.72 EPS. As a group, equities analysts predict that Brookfield will post 3.35 earnings per share for the current year.

Insider Activity

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Brookfield

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in shares of Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Mckinley Capital Management LLC grew its holdings in shares of Brookfield by 0.9% during the first quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock valued at $1,367,000 after buying an additional 283 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Brookfield by 4.5% during the first quarter. Checchi Capital Advisers LLC now owns 6,622 shares of the company’s stock valued at $277,000 after buying an additional 288 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after buying an additional 296 shares during the last quarter. Finally, Pembroke Management LTD grew its holdings in shares of Brookfield by 4.4% during the first quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after buying an additional 310 shares during the last quarter. 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.