Brookfield (NYSE:BN) Stock Rating Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Brookfield from “hold” to “strong sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $57.40.
• Brookfield shares opened at $37.33, near their one-year low of $35.61 and below both the 50-day and 200-day moving averages. The company nevertheless beat quarterly EPS estimates, reporting $0.66 versus the $0.62 consensus.
• Institutional investors own 61.6% of Brookfield, with several firms increasing their positions during the second quarter, including Concurrent Investment Advisors, which raised its stake by more than 520%.

Brookfield (NYSE:BN - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Monday, Zacks reports.

Several other analysts also recently issued reports on the company. Morgan Stanley set a $59.00 price target on Brookfield and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Scotiabank reissued 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. Scotia raised their price objective on Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a research note on Friday, August 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research note on Monday, September 21st. Finally, BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.40.

Brookfield Trading Up 2.4%

Shares of NYSE:BN opened at $37.33 on Monday. The stock has a market capitalization of $91.52 billion, a PE ratio of 67.86 and a beta of 1.56. Brookfield has a 1 year low of $35.61 and a 1 year high of $49.56. The firm has a fifty day moving average price of $38.92 and a 200 day moving average price of $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 (NYSE:BN - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Analysts expect that Brookfield will post 2.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BN. Cardinal Capital Management Inc. increased its holdings in Brookfield by 2.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company's stock valued at $138,287,000 after buying an additional 80,738 shares during the period. Headlands Technologies LLC raised its stake in shares of Brookfield by 181.4% in the 2nd quarter. Headlands Technologies LLC now owns 91,785 shares of the company's stock valued at $3,909,000 after buying an additional 59,166 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Brookfield by 520.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company's stock worth $2,031,000 after acquiring an additional 39,994 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Brookfield by 1.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company's stock worth $595,676,000 after acquiring an additional 248,479 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Brookfield during the 2nd quarter worth about $5,498,000. 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.

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