Brookfield (NYSE:BN) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Brookfield (NYSE:BN) from a hold rating to a sell rating in a report issued on Saturday.

BN has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield in a research note on Wednesday, October 8th. National Bankshares set a $54.67 price target on Brookfield and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. CIBC reiterated an “outperform” rating and issued a $52.00 price target (up previously from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Scotiabank raised their price objective on shares of Brookfield from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Finally, BMO Capital Markets lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $53.47.

Brookfield Trading Up 0.8%

NYSE:BN opened at $45.08 on Friday. The firm has a market capitalization of $111.57 billion, a P/E ratio of 157.25 and a beta of 1.73. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18. Brookfield has a one year low of $29.07 and a one year high of $49.47. The company’s 50-day simple moving average is $45.52 and its 200 day simple moving average is $43.21.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. As a group, analysts forecast that Brookfield will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, December 16th. Brookfield’s payout ratio is presently 66.67%.

Institutional Investors Weigh In On Brookfield

Several institutional investors and hedge funds have recently added to or reduced their stakes in BN. Hilltop National Bank purchased a new stake in Brookfield during the 2nd quarter valued at $30,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Brookfield in the second quarter worth $32,000. Ameritas Advisory Services LLC purchased a new stake in Brookfield during the second quarter valued at $33,000. First Horizon Corp bought a new position in Brookfield in the third quarter valued at about $40,000. Finally, Cary Street Partners Investment Advisory LLC boosted its position in Brookfield by 109.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after purchasing an additional 330 shares during the last quarter. Hedge funds and other 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.