Brookfield (NYSE:BN) Given New $50.00 Price Target at Scotiabank

Brookfield (NYSE:BNFree Report) had its price target raised by Scotiabank from $49.00 to $50.00 in a research report sent to investors on Friday, MarketBeat Ratings reports. Scotiabank currently has a sector outperform rating on the stock.

Several other brokerages have also weighed in on BN. BMO Capital Markets decreased their price objective on Brookfield from $45.00 to $42.00 and set an outperform rating for the company in a report on Friday, November 10th. CIBC lifted their price objective on Brookfield from $46.00 to $52.00 and gave the stock an outperform rating in a report on Friday. Royal Bank of Canada raised their target price on Brookfield from $44.00 to $52.00 and gave the stock an outperform rating in a research note on Friday, January 5th. TD Securities raised their target price on Brookfield from $55.00 to $61.00 and gave the stock an action list buy rating in a research note on Monday, February 5th. Finally, Canaccord Genuity Group raised their target price on Brookfield from $37.74 to $41.00 in a research note on Wednesday, December 20th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $47.45.

Check Out Our Latest Stock Analysis on BN

Brookfield Price Performance

Shares of NYSE:BN opened at $40.96 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The stock’s fifty day simple moving average is $39.16 and its two-hundred day simple moving average is $35.18. Brookfield has a 1-year low of $28.25 and a 1-year high of $41.60. The stock has a market cap of $67.17 billion, a PE ratio of 66.07 and a beta of 1.50.

Brookfield (NYSE:BNGet Free Report) last announced its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm posted $1.12 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, analysts forecast that Brookfield will post 3.75 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, March 12th. This is a boost from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. Brookfield’s payout ratio is 45.16%.

Insider Buying and Selling

In related news, major shareholder Gp Ltd Bcp sold 132,700 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $2.47, for a total value of $327,769.00. Following the sale, the insider now directly owns 30,368,482 shares of the company’s stock, valued at $75,010,150.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Ocm Growth Holdings Llc sold 237,635 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $12.69, for a total transaction of $3,015,588.15. Following the transaction, the director now directly owns 16,504,533 shares of the company’s stock, valued at $209,442,523.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Gp Ltd Bcp sold 132,700 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $2.47, for a total value of $327,769.00. Following the transaction, the insider now directly owns 30,368,482 shares in the company, valued at $75,010,150.54. The disclosure for this sale can be found here. Insiders have sold a total of 6,545,283 shares of company stock valued at $22,555,512 over the last ninety days. Company insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FinTrust Capital Advisors LLC purchased a new stake in Brookfield during the third quarter valued at $25,000. Sunbelt Securities Inc. lifted its stake in shares of Brookfield by 4,670.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after purchasing an additional 794 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Brookfield during the 3rd quarter worth approximately $30,000. Ronald Blue Trust Inc. lifted its stake in shares of Brookfield by 102.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,021 shares of the company’s stock worth $34,000 after acquiring an additional 517 shares during the last quarter. Finally, Castleview Partners LLC bought a new stake in shares of Brookfield during the 3rd quarter worth approximately $34,000. 58.22% of the stock is owned by institutional investors.

Brookfield Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Brookfield (NYSE:BN)

Receive News & Ratings for Brookfield Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield and related companies with MarketBeat.com's FREE daily email newsletter.