Brookfield (NYSE:BN) Price Target Raised to $65.00

Brookfield (NYSE:BN) had its price target boosted by JPMorgan Chase & Co. from $56.00 to $65.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

BN has been the subject of several other research reports. Scotiabank reiterated an “outperform” rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Scotia upped their price target on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Zacks Research downgraded shares of Brookfield from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $57.70.

Brookfield Stock Performance

Shares of BN stock opened at $41.63 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The stock has a 50 day simple moving average of $38.33 and a 200-day simple moving average of $42.36. The company has a market cap of $102.10 billion, a price-to-earnings ratio of 75.70 and a beta of 1.53. Brookfield has a 12-month low of $35.61 and a 12-month high of $49.56.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, November 12th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.87 billion. On average, equities analysts forecast that Brookfield will post 2.88 EPS for the current year.

Hedge Funds Weigh In On Brookfield

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Brookfield in the third quarter valued at $26,000. Silicon Valley Capital Partners purchased a new position in shares of Brookfield in the second quarter valued at $32,000. Kings Path Partners LLC purchased a new position in shares of Brookfield in the third quarter valued at $35,000. Bogart Wealth LLC raised its stake in shares of Brookfield by 33,333.3% during the 3rd quarter. Bogart Wealth LLC now owns 1,003 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Brookfield by 203.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company’s stock worth $50,000 after buying an additional 824 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

About Brookfield

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors. The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.