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

Key Points

• Royal Bank of Canada cut Brookfield’s price target from $61 to $59 but maintained its “outperform” rating; the new target implies 44.5% upside from the cited share price.
• Analyst sentiment remains broadly positive: MarketBeat reports an average “Moderate Buy” rating and a consensus price target of $57.50.
• Brookfield reported quarterly EPS of $0.73, beating estimates of $0.68, while revenue of $1.87 billion matched expectations.

Brookfield (NYSE:BN - Get Free Report) had its target price reduced by research analysts at Royal Bank Of Canada from $61.00 to $59.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target indicates a potential upside of 44.50% from the stock's current price.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. 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. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research report on Monday, September 21st. Scotia boosted their target price on Brookfield from $53.00 to $54.00 and gave the company 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 company an "overweight" rating in a report on Tuesday. One research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $57.50.

Brookfield Price Performance

Shares of NYSE BN traded down $0.81 during mid-day trading on Friday, hitting $40.83. 351,149 shares of the company's stock traded hands, compared to its average volume of 5,094,983. The company's 50-day moving average is $38.33 and its two-hundred day moving average is $42.36. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The company has a market capitalization of $100.14 billion, a P/E ratio of 74.12 and a beta of 1.53. Brookfield has a 1 year low of $35.61 and a 1 year high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, November 12th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.87 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. On average, equities analysts anticipate that Brookfield will post 2.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield

Hedge funds have recently bought and sold shares of the business. Public Sector Pension Investment Board lifted its position in shares of Brookfield by 54.4% during the third quarter. Public Sector Pension Investment Board now owns 4,953,914 shares of the company's stock worth $181,995,000 after purchasing an additional 1,746,333 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of 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 purchasing an additional 1,575,668 shares during the last quarter. Madison Asset Management LLC bought a new position in shares of Brookfield in the second quarter worth about $55,655,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Brookfield by 32.4% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,700,649 shares of the company's stock worth $171,502,000 after purchasing an additional 1,149,020 shares during the last quarter. Finally, WCM Investment Management LLC increased its stake in Brookfield by 454.4% in the 1st quarter. WCM Investment Management LLC now owns 1,103,817 shares of the company's stock worth $42,740,000 after buying an additional 904,701 shares during the period. Institutional investors own 61.60% of the company's stock.

About Brookfield

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.

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