Brookfield (NYSE:BN) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Shares of Brookfield Corporation (NYSE:BN) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $42.47 and traded as low as $41.24. Brookfield shares last traded at $41.7330, with a volume of 4,631,565 shares.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an “overweight” rating in a research report on Tuesday, July 21st. TD lifted their target price on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, August 14th. BMO Capital Markets upgraded Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Zacks Research downgraded Brookfield from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Finally, Scotiabank reissued an “outperform” rating and set a $54.00 price target (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.40.

Brookfield Stock Performance

The business’s fifty day moving average is $38.19 and its two-hundred day moving average is $42.47. The stock has a market capitalization of $102.35 billion, a PE ratio of 75.88 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 issued its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.66 billion. As a group, research analysts anticipate that Brookfield Corporation will post 2.88 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 14th. Brookfield’s dividend payout ratio is currently 50.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of Nova Scotia increased its stake in Brookfield by 11.4% during the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after acquiring an additional 1,575,668 shares during the last quarter. Madison Asset Management LLC purchased a new stake in Brookfield during the second quarter valued at approximately $55,655,000. WCM Investment Management LLC raised its position in Brookfield by 454.4% during the first quarter. WCM Investment Management LLC now owns 1,103,817 shares of the company’s stock valued at $42,740,000 after purchasing an additional 904,701 shares during the period. Nykredit A S bought a new stake in shares of Brookfield in the 2nd quarter valued at approximately $23,546,000. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Brookfield by 3.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company’s stock valued at $522,741,000 after purchasing an additional 495,666 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

About Brookfield

Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.