Brookfield Stock to Split on Friday, October 10th (NYSE:BN)

Key Points

• Brookfield Corporation shares are set to undergo a 3-2 stock split on Friday, October 10th, with new shares payable to shareholders after the market closes on October 9th.
• The company reported $0.88 EPS for the last quarter, slightly missing expectations, and had a total revenue of $1.44 billion.
• Analysts have a consensus target price of $75.70 for Brookfield shares, with several rating the stock as "Buy" or "Outperform".

Brookfield Corporation (NYSE:BN - Free Report) shares are scheduled to split before the market opens on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly issued shares will be payable to shareholders after the market closes on Thursday, October 9th.

Brookfield Price Performance

BN opened at $71.66 on Wednesday. Brookfield has a one year low of $43.61 and a one year high of $74.20. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18. The company's 50 day simple moving average is $66.87 and its 200-day simple moving average is $59.62. The stock has a market capitalization of $118.18 billion, a P/E ratio of 166.65 and a beta of 1.73.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). Brookfield had a net margin of 1.11% and a return on equity of 3.77%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. Sell-side analysts anticipate that Brookfield will post 3.85 earnings per share for the current fiscal 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 paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 12th. Brookfield's dividend payout ratio is 83.72%.

Wall Street Analysts Forecast Growth

BN has been the topic of several research analyst reports. National Bankshares set a $82.00 price target on shares of Brookfield and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Cowen reaffirmed a "buy" rating on shares of Brookfield in a research note on Friday, August 8th. National Bank Financial initiated coverage on shares of Brookfield in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $82.00 price objective on the stock. Royal Bank Of Canada raised their price objective 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. Finally, BMO Capital Markets raised their price objective on shares of Brookfield from $66.00 to $69.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, Brookfield currently has an average rating of "Buy" and a consensus target price of $75.70.

Institutional Investors Weigh In On Brookfield

A number of hedge funds and other institutional investors have recently made changes to their positions in BN. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Brookfield during the first quarter worth $26,000. North Capital Inc. bought a new position in Brookfield in the first quarter valued at $27,000. ST Germain D J Co. Inc. bought a new position in Brookfield in the first quarter valued at $28,000. Hilltop National Bank bought a new position in Brookfield in the second quarter valued at $30,000. Finally, Golden State Wealth Management LLC grew its position 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 purchasing an additional 296 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

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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