Brookfield (NYSE:BN) Price Target Raised to $50.00 at BMO Capital Markets

Brookfield (NYSE:BN) had its price target raised by BMO Capital Markets from $48.00 to $50.00 in a report released on Wednesday, MarketBeat reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on BN. Scotiabank lifted their price objective on Brookfield from $50.50 to $51.25 and gave the stock a sector outperform rating in a research report on Friday, August 9th. Royal Bank of Canada cut their price objective on Brookfield from $57.00 to $56.00 and set an outperform rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on Brookfield from $49.00 to $52.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods raised their target price on Brookfield from $44.00 to $46.00 and gave the company a market perform rating in a research note on Friday, August 9th. Finally, TD Securities raised their target price on Brookfield from $62.00 to $63.00 and gave the company a buy rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $51.59.

Brookfield Stock Performance

Shares of NYSE BN opened at $49.37 on Wednesday. The stock has a market cap of $81.18 billion, a price-to-earnings ratio of 80.94 and a beta of 1.53. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. Brookfield has a 1-year low of $28.84 and a 1-year high of $50.46. The stock’s 50-day moving average is $46.78 and its 200 day moving average is $43.53.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. Brookfield’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. On average, sell-side analysts anticipate that Brookfield will post 3.84 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, September 12th. Brookfield’s payout ratio is 52.46%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BN. Connectus Wealth LLC raised its stake in Brookfield by 1,049.1% during the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after buying an additional 557,749 shares during the last quarter. Fortis Group Advisors LLC raised its stake in shares of Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Brookfield in the second quarter worth $31,000. Finally, Family Firm Inc. purchased a new position in shares of Brookfield in the second quarter worth $36,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

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.