Brookfield (NYSE:BN) Given New $63.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target on Brookfield to $63.00 (from $60.00) with an "outperform" rating, implying roughly a 35.66% upside from the current share price.
• Analysts are broadly positive but mixed—Brookfield holds a consensus rating of "Moderate Buy" with an average price target of $55.54, while the stock traded near $46.44 (market cap ~$113.8B) at the time of the report.
• Brookfield recently beat EPS expectations (reported $0.67 vs. $0.61 consensus) and has seen substantial institutional buying, with about 61.6% of the shares held by institutions who materially increased stakes.

Brookfield (NYSE:BN - Get Free Report) had its target price increased by equities research analysts at Royal Bank Of Canada from $60.00 to $63.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 35.66% from the stock's current price.

Several other equities analysts also recently issued reports on the stock. National Bank Financial lifted their price target on shares of Brookfield from $56.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, February 4th. Scotiabank cut their price target on shares of Brookfield from $52.00 to $48.50 and set a "sector outperform" rating for the company in a report on Wednesday, March 25th. BMO Capital Markets lifted their price target on shares of Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brookfield in a research note on Friday, March 27th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $60.00 target price on shares of Brookfield in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Brookfield currently has an average rating of "Moderate Buy" and a consensus price target of $55.54.

Brookfield Price Performance

BN stock traded down $0.15 during trading on Monday, hitting $46.44. 2,780,623 shares of the stock traded hands, compared to its average volume of 5,942,398. Brookfield has a one year low of $31.62 and a one year high of $49.56. The stock has a market cap of $113.81 billion, a price-to-earnings ratio of 94.18 and a beta of 1.56. The company has a 50 day simple moving average of $42.81 and a 200 day simple moving average of $44.85. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Equities analysts expect that Brookfield will post 3.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield

A number of institutional investors have recently modified their holdings of the stock. Partners Value Investments L.P. grew its position in shares of Brookfield by 50.0% during the 4th quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company's stock worth $8,324,719,000 after buying an additional 60,468,651 shares during the period. Dodge & Cox acquired a new stake in shares of Brookfield during the 4th quarter worth approximately $1,894,354,000. Royal Bank of Canada grew its position in shares of Brookfield by 40.5% during the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company's stock worth $5,215,504,000 after buying an additional 32,760,558 shares during the period. Vanguard Group Inc. grew its position in shares of Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company's stock worth $4,228,915,000 after buying an additional 31,543,313 shares during the period. Finally, Capital World Investors grew its position in shares of Brookfield by 45.0% during the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company's stock worth $4,546,443,000 after buying an additional 30,755,354 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Company Profile

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.

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