Brookfield (NYSE:BN) PT Set at $58.00 by Royal Bank Of Canada

Brookfield (NYSE:BN) received a $58.00 price objective from equities researchers at Royal Bank Of Canada in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 23.46% from the stock’s previous close.

Several other equities research analysts also recently issued reports on BN. CIBC reissued an “outperform” rating and set a $52.00 price objective (up previously from $50.67) on shares of Brookfield in a research report on Friday, November 14th. JPMorgan Chase & Co. increased their target price on Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. BMO Capital Markets restated an “outperform” rating and issued a $49.00 target price (up previously from $46.00) on shares of Brookfield in a research note on Wednesday, December 17th. Finally, Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $53.87.

Brookfield Trading Down 0.4%

BN stock traded down $0.19 during midday trading on Monday, hitting $46.98. 2,206,804 shares of the company’s stock were exchanged, compared to its average volume of 4,313,171. Brookfield has a one year low of $29.07 and a one year high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The company has a market cap of $116.36 billion, a PE ratio of 130.51 and a beta of 1.58. The stock’s fifty day moving average price is $46.28 and its 200-day moving average price is $45.36.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Brookfield had a return on equity of 3.92% and a net margin of 1.34%.The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Research analysts predict that Brookfield will post 3.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Brookfield in the second quarter valued at approximately $1,040,160,000. Lone Pine Capital LLC bought a new stake in shares of Brookfield during the 2nd quarter valued at $347,683,000. Canada Pension Plan Investment Board raised its stake in Brookfield by 132.5% in the second quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock valued at $405,065,000 after purchasing an additional 3,727,628 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Brookfield in the third quarter valued at approximately $171,104,000. Finally, Picton Mahoney Asset Management bought a new stake in Brookfield during the 2nd quarter worth approximately $140,555,000. 61.60% of the stock is owned by institutional investors and hedge funds.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.