Brookfield (NYSE:BN) Rating Increased to Strong-Buy at The Goldman Sachs Group

Key Points

• Brookfield has been upgraded to a "strong-buy" rating by The Goldman Sachs Group, reflecting positive sentiment among analysts regarding the stock's potential.
• Several price adjustments have been made by investment firms, with BMO Capital Markets raising its target price for Brookfield from $66.00 to $69.00, and Scotiabank setting their target at $75.00.
• The company will conduct a 3-2 stock split before the market opens on October 10th, which may attract more investors and enhance liquidity.

The Goldman Sachs Group upgraded shares of Brookfield (NYSE:BN - Free Report) to a strong-buy rating in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $78.00 price objective on the stock.

A number of other analysts have also recently issued reports on the stock. National Bankshares set a $82.00 price objective on shares of Brookfield and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Wall Street Zen raised shares of Brookfield from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. TD Securities increased their price objective on shares of Brookfield from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, National Bank Financial assumed coverage on shares of Brookfield in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $82.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $75.70.

Brookfield Stock Performance

Shares of Brookfield stock traded down $0.37 on Tuesday, hitting $66.14. 787,798 shares of the company's stock were exchanged, compared to its average volume of 2,613,816. The company has a 50-day simple moving average of $65.39 and a 200-day simple moving average of $58.53. The stock has a market capitalization of $109.06 billion, a PE ratio of 153.58 and a beta of 1.73. Brookfield has a 1 year low of $43.61 and a 1 year high of $68.75. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29.

Brookfield shares are scheduled to split 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 for 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 anticipate that Brookfield will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The company also recently announced 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. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, September 12th. Brookfield's dividend payout ratio (DPR) is 83.72%.

Hedge Funds Weigh In On Brookfield

Large investors have recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Brookfield during the 1st quarter worth about $26,000. North Capital Inc. purchased a new position in shares of Brookfield during the 1st quarter worth about $27,000. ST Germain D J Co. Inc. bought a new stake in Brookfield during the 1st quarter valued at about $28,000. CoreCap Advisors LLC bought a new stake in Brookfield during the 4th quarter valued at about $29,000. Finally, Hilltop National Bank bought a new stake in Brookfield during the 2nd quarter valued at about $30,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

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.