Brookfield (NYSE:BN) Reaches New 1-Year High - Time to Buy?

Key Points

• Brookfield Corporation's share price reached a new 52-week high, trading at $69.29 after previously closing at $67.05.
• Several research firms have increased their price targets for Brookfield, with ratings ranging from "buy" to "outperform," and an average price target of $75.70.
• The company is set to undergo a 3-2 stock split on October 10, 2023, which will affect current shareholders before the market opens.

Brookfield Corporation (NYSE:BN - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $68.81 and last traded at $69.29, with a volume of 220111 shares changing hands. The stock had previously closed at $67.05.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BN. Royal Bank Of Canada raised their price target on Brookfield from $81.00 to $83.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. TD Securities increased their price objective on Brookfield from $74.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. BMO Capital Markets raised their target price on Brookfield from $66.00 to $69.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. National Bankshares set a $82.00 price objective on Brookfield and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Finally, Scotiabank lifted their price objective on Brookfield from $69.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $75.70.

Brookfield Stock Up 2.7%

The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The company has a 50 day simple moving average of $65.66 and a two-hundred day simple moving average of $58.70. The company has a market capitalization of $113.51 billion, a P/E ratio of 160.06 and a beta of 1.73.

Brookfield shares are going to split before the market opens on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly created shares will be distributed to shareholders after the closing bell on Thursday, October 9th.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.44 billion. Brookfield had a return on equity of 3.77% and a net margin of 1.11%. As a group, equities analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, September 12th will be issued a $0.09 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield's dividend payout ratio (DPR) is currently 83.72%.

Institutional Trading of Brookfield

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its position in Brookfield by 13.8% during the 2nd quarter. Osaic Holdings Inc. now owns 85,053 shares of the company's stock worth $5,235,000 after acquiring an additional 10,298 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of Brookfield by 110.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 43,392 shares of the company's stock worth $2,684,000 after purchasing an additional 22,803 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Brookfield by 29.6% in the second quarter. Squarepoint Ops LLC now owns 25,502 shares of the company's stock valued at $1,577,000 after acquiring an additional 5,821 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Brookfield during the second quarter worth $869,000. Finally, Marex Group plc acquired a new position in Brookfield during the second quarter worth $1,589,000. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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