Royal Bank of Canada Lowers Brookfield (NYSE:BN) Price Target to $56.00

Brookfield (NYSE:BN) had its target price decreased by analysts at Royal Bank of Canada from $57.00 to $56.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 24.67% from the stock’s current price.

BN has been the subject of a number of other research reports. TD Securities raised their price objective on Brookfield from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods increased their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Scotiabank increased their price target on shares of Brookfield from $49.50 to $50.50 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $48.78.

Brookfield Trading Up 1.1 %

Brookfield stock traded up $0.48 during trading on Friday, reaching $44.92. The company had a trading volume of 1,905,807 shares, compared to its average volume of 3,224,635. The stock’s 50 day moving average price is $43.76 and its two-hundred day moving average price is $42.22. Brookfield has a 12-month low of $28.84 and a 12-month high of $49.44. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17. The firm has a market capitalization of $73.83 billion, a price-to-earnings ratio of 73.64 and a beta of 1.52.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The business had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. As a group, equities analysts expect that Brookfield will post 3.35 earnings per share for the current fiscal year.

Insider Activity

In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the sale, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital World Investors lifted its position in shares of Brookfield by 102.2% in the fourth quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after purchasing an additional 24,975,364 shares in the last quarter. Norges Bank purchased a new stake in Brookfield in the 4th quarter worth approximately $614,104,000. TD Asset Management Inc boosted its stake in shares of Brookfield by 16.2% during the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock valued at $1,069,892,000 after buying an additional 3,702,266 shares during the period. SG Americas Securities LLC purchased a new position in shares of Brookfield during the 2nd quarter valued at $128,321,000. Finally, M&G Plc acquired a new position in shares of Brookfield in the first quarter worth $111,222,000. 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.