TD Securities Boosts Brookfield (NYSE:BN) Price Target to $62.00

Brookfield (NYSE:BN) had its price objective hoisted by equities research analysts at TD Securities from $61.00 to $62.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 39.26% from the company’s previous close.

Several other research analysts have also issued reports on BN. Keefe, Bruyette & Woods cut their price target on Brookfield from $46.00 to $44.00 and set a “market perform” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada decreased their price target on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Scotiabank increased their price objective on Brookfield from $49.50 to $50.50 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Brookfield Price Performance

BN stock traded up $0.75 during trading on Tuesday, hitting $44.52. The company had a trading volume of 1,484,625 shares, compared to its average volume of 3,216,178. The company has a fifty day moving average price of $43.65 and a two-hundred day moving average price of $42.12. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35. Brookfield has a fifty-two week low of $28.84 and a fifty-two week high of $49.44. The company has a market cap of $73.18 billion, a P/E ratio of 72.92 and a beta of 1.52.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $22.91 billion during the quarter. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. During the same quarter in the prior year, the company posted $0.72 EPS. Equities research analysts expect that Brookfield will post 3.35 earnings per share for the current fiscal year.

Insider Activity at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.00% of the stock is owned by insiders.

Institutional Trading of Brookfield

Several hedge funds and other institutional investors have recently bought and sold shares of BN. Chicago Capital LLC purchased a new position in Brookfield during the second quarter worth approximately $2,341,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Brookfield in the 2nd quarter valued at about $109,000. Farmers & Merchants Investments Inc. acquired a new stake in Brookfield during the 2nd quarter worth approximately $234,000. Hohimer Wealth Management LLC acquired a new stake in Brookfield during the 2nd quarter worth approximately $4,208,000. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in shares of Brookfield by 3.9% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after buying an additional 257 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Company Profile

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.