Royal Bank Of Canada Has Lowered Expectations for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BN) had its target price lowered by analysts at Royal Bank Of Canada from $61.00 to $59.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective suggests a potential upside of 44.50% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Scotiabank restated an “outperform” rating and set a $54.00 price objective (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Zacks Research cut Brookfield from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Monday, September 21st. Scotia increased their price target on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. increased their price target on Brookfield from $56.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.50.

Brookfield Trading Down 1.9%

Shares of Brookfield stock traded down $0.81 on Friday, hitting $40.83. 351,149 shares of the company traded hands, compared to its average volume of 5,094,983. The stock’s 50 day moving average price is $38.33 and its 200-day moving average price is $42.36. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. Brookfield has a 52 week low of $35.61 and a 52 week high of $49.56. The company has a market cap of $100.14 billion, a PE ratio of 74.12 and a beta of 1.53.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, November 12th. The company reported $0.73 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.87 billion. Equities research analysts predict that Brookfield will post 2.88 EPS for the current year.

Hedge Funds Weigh In On Brookfield

Several institutional investors have recently bought and sold shares of BN. Bank of Nova Scotia raised its stake in Brookfield by 11.4% in the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after buying an additional 1,575,668 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in Brookfield by 3.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company’s stock valued at $522,741,000 after acquiring an additional 495,666 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its position in Brookfield by 6.3% during the 3rd quarter. Beutel Goodman & Co Ltd. now owns 6,573,596 shares of the company’s stock valued at $240,395,000 after acquiring an additional 386,889 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Brookfield by 54.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,953,914 shares of the company’s stock valued at $181,995,000 after acquiring an additional 1,746,333 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Brookfield by 32.4% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,700,649 shares of the company’s stock valued at $171,502,000 after acquiring an additional 1,149,020 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Company Profile

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.