Brookfield Corporation (NYSE:BN - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $69.98 and last traded at $69.66, with a volume of 2208803 shares changing hands. The stock had previously closed at $69.42.
Wall Street Analyst Weigh In
Several research firms have commented on BN. Cowen reaffirmed a "buy" rating on shares of Brookfield in a report on Friday, August 8th. The Goldman Sachs Group started coverage on Brookfield in a report on Tuesday, September 2nd. They issued a "buy" rating and a $78.00 target price for the company. Scotiabank increased their target price on Brookfield from $69.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. National Bankshares set a $82.00 target price on Brookfield and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Finally, National Bank Financial started coverage on Brookfield in a report on Tuesday, July 29th. They issued an "outperform" rating and a $82.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $75.70.
Get Our Latest Research Report on BN
Brookfield Price Performance
The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29. The firm has a market capitalization of $118.61 billion, a P/E ratio of 167.26 and a beta of 1.73. The company has a 50-day moving average price of $66.53 and a 200-day moving average price of $59.34.
Brookfield shares are set to split on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly minted shares will be payable to shareholders after the closing bell on Thursday, October 9th.
Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. Brookfield had a return on equity of 3.77% and a net margin of 1.11%. On average, sell-side analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current year.
Brookfield Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 12th. Brookfield's dividend payout ratio (DPR) is presently 83.72%.
Institutional Trading of Brookfield
Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Brookfield by 16.6% in the 1st quarter. GAMMA Investing LLC now owns 2,282 shares of the company's stock valued at $120,000 after purchasing an additional 325 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Brookfield by 13.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 290,942 shares of the company's stock valued at $16,261,000 after purchasing an additional 34,573 shares during the period. Inscription Capital LLC acquired a new stake in shares of Brookfield in the 1st quarter valued at about $285,000. Banco Santander S.A. acquired a new stake in shares of Brookfield in the 1st quarter valued at about $509,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Brookfield by 0.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 43,333 shares of the company's stock valued at $2,267,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.
About Brookfield
(
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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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