BMO Capital Markets Raises Brookfield (NYSE:BN) Price Target to $69.00

Key Points

• BMO Capital Markets raised its target price for Brookfield stock from $66.00 to $69.00, indicating a potential upside of 6.27% from the current price, while maintaining an "outperform" rating.
• Brookfield's average rating is classified as a "Moderate Buy", with nine analysts issuing buy or strong buy ratings and one analyst giving a sell rating.
• The company is scheduled to undergo a 3-for-2 stock split on October 10th, enhancing liquidity for shareholders.

Brookfield (NYSE:BN - Get Free Report) had its target price increased by BMO Capital Markets from $66.00 to $69.00 in a report released on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' target price points to a potential upside of 4.31% from the company's previous close.

BN has been the topic of several other reports. Wall Street Zen lowered shares of Brookfield from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Scotiabank increased their target price on shares of Brookfield from $69.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their price target on shares of Brookfield from $81.00 to $83.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. National Bank Financial began coverage on shares of Brookfield in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $82.00 price target on the stock. Finally, Cowen reaffirmed a "buy" rating on shares of Brookfield in a research note on Friday. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $75.44.

Brookfield Stock Performance

Shares of BN traded up $0.59 during trading hours on Friday, reaching $66.15. 481,076 shares of the company traded hands, compared to its average volume of 2,637,371. The stock has a market capitalization of $109.06 billion, a P/E ratio of 153.84 and a beta of 1.70. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. Brookfield has a 12-month low of $43.61 and a 12-month high of $68.75. The business has a fifty day moving average price of $63.15 and a 200-day moving average price of $57.87.

Brookfield's stock is going to split on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly created shares will be payable to shareholders after the market closes on Thursday, October 9th.

Brookfield (NYSE:BN - Get Free Report) last posted its 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). Brookfield had a return on equity of 3.77% and a net margin of 1.11%. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.44 billion. Equities analysts anticipate that Brookfield will post 3.85 EPS for the current fiscal year.

Institutional Trading of Brookfield

Hedge funds have recently bought and sold shares of the business. Hilltop National Bank acquired a new stake in Brookfield in the 2nd quarter valued at about $30,000. CoreCap Advisors LLC acquired a new stake in Brookfield in the 4th quarter valued at about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Brookfield during the 1st quarter worth approximately $26,000. North Capital Inc. acquired a new stake in shares of Brookfield during the 1st quarter worth approximately $27,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Brookfield during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 61.60% of the company's stock.

About Brookfield

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.