Brookfield (NYSE:BN) Announces Quarterly Earnings Results

Brookfield (NYSE:BN) issued its quarterly earnings data on Thursday. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13, Zacks reports. The firm had revenue of $22.91 billion during the quarter. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. During the same quarter in the previous year, the firm posted $0.72 EPS.

Brookfield Stock Performance

Shares of Brookfield stock traded down $0.01 during mid-day trading on Friday, hitting $44.24. 1,497,250 shares of the stock were exchanged, compared to its average volume of 2,827,989. Brookfield has a 12 month low of $28.84 and a 12 month high of $44.50. The company has a 50-day simple moving average of $41.10 and a 200 day simple moving average of $38.59. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. The company has a market capitalization of $72.64 billion, a P/E ratio of 71.37 and a beta of 1.48.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.72%. Brookfield’s dividend payout ratio (DPR) is currently 51.61%.

Insiders Place Their Bets

In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BN shares. Scotiabank boosted their target price on Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Royal Bank of Canada decreased their target price on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. TheStreet raised Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Finally, Canaccord Genuity Group upped their target price on Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.15.

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.