Brookfield (NYSE:BN) Reaches New 1-Year Low – Here’s Why

Brookfield Corporation (NYSE:BN)’s share price reached a new 52-week low on Thursday . The company traded as low as $37.87 and last traded at $38.0240, with a volume of 645298 shares changing hands. The stock had previously closed at $38.52.

Analyst Ratings Changes

A number of brokerages have issued reports on BN. National Bank Financial boosted their target price on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Royal Bank Of Canada reduced their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Wednesday, June 24th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Scotia raised their target price on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Brookfield Stock Performance

The company’s 50-day moving average is $42.52 and its two-hundred day moving average is $43.22. The company has a market capitalization of $93.55 billion, a P/E ratio of 69.28 and a beta of 1.53. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Equities analysts anticipate that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be given a $0.07 dividend. The ex-dividend date is Monday, September 14th. This represents a $0.28 annualized dividend and a yield of 0.7%. Brookfield’s payout ratio is 50.91%.

Institutional Investors Weigh In On Brookfield

A number of large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in Brookfield by 47.0% in the 4th quarter. Capital Research Global Investors now owns 2,134,876 shares of the company’s stock worth $98,022,000 after acquiring an additional 682,137 shares during the last quarter. Cardinal Capital Management Inc. boosted its position in shares of Brookfield by 2.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company’s stock valued at $138,287,000 after acquiring an additional 80,738 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Brookfield by 38.5% in the fourth quarter. HighTower Advisors LLC now owns 233,889 shares of the company’s stock valued at $10,734,000 after purchasing an additional 65,070 shares in the last quarter. Barr E S & Co. grew its holdings in shares of Brookfield by 48.3% in the fourth quarter. Barr E S & Co. now owns 916,671 shares of the company’s stock valued at $42,066,000 after purchasing an additional 298,380 shares in the last quarter. Finally, HughesLittle Investment Management Ltd. increased its position in Brookfield by 47.2% in the fourth quarter. HughesLittle Investment Management Ltd. now owns 1,542,185 shares of the company’s stock worth $70,909,000 after purchasing an additional 494,461 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.

Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.