Brookfield Co. (NYSE:BN) to Issue Quarterly Dividend of $0.08

Brookfield Co. (NYSE:BN) announced a quarterly dividend on Thursday, August 8th, Zacks reports. Investors of record on Thursday, September 12th will be given a dividend of 0.08 per share on Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, September 12th.

Brookfield has decreased its dividend payment by an average of 16.4% per year over the last three years. Brookfield has a payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brookfield to earn $4.35 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.4%.

Brookfield Stock Up 0.9 %

BN stock traded up $0.41 during trading on Friday, reaching $44.85. The stock had a trading volume of 334,402 shares, compared to its average volume of 3,214,364. The firm has a fifty day moving average price of $43.73 and a 200 day moving average price of $42.17. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $73.72 billion, a P/E ratio of 72.80 and a beta of 1.52. Brookfield has a 1-year low of $28.84 and a 1-year high of $49.44.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.78 by $0.57. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The company had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business earned $0.75 earnings per share. Brookfield’s revenue was down 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Brookfield will post 3.35 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BN shares. JPMorgan Chase & Co. upped their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. TD Securities upped their target price on Brookfield from $61.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday. Scotiabank lifted their price target on Brookfield from $49.50 to $50.50 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Royal Bank of Canada reduced their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.20.

Insider Buying and Selling at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s 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 directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.00% of the company’s stock.

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.