Brookfield (NYSE:BN) Hits New 1-Year High - Still a Buy?

Brookfield Corporation (NYSE:BN - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $65.81 and last traded at $65.75, with a volume of 3472555 shares traded. The stock had previously closed at $63.33.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BN. Wall Street Zen cut Brookfield from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. TD Securities reduced their price target on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. Royal Bank Of Canada began coverage on Brookfield in a report on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $66.13.

Brookfield Trading Down 1.2%

The firm has a market capitalization of $110.91 billion, a PE ratio of 240.36 and a beta of 1.66. The business has a 50 day moving average price of $60.13 and a 200-day moving average price of $56.76. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49.

Brookfield (NYSE:BN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. Analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's payout ratio is 128.57%.

Hedge Funds Weigh In On Brookfield

Hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC acquired a new position in Brookfield in the fourth quarter valued at $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Brookfield in the first quarter valued at $26,000. North Capital Inc. acquired a new position in Brookfield in the first quarter valued at $27,000. ST Germain D J Co. Inc. acquired a new position in Brookfield in the first quarter valued at $28,000. Finally, Golden State Wealth Management LLC boosted its holdings in Brookfield by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock valued at $31,000 after acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors 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.