Brookfield (NYSE:BN) Hits New 52-Week Low - What's Next?

Key Points

• Brookfield shares fell to a new 52-week low of $35.61, below their 50-day and 200-day moving averages, amid a 2.5% decline.
• Despite the weakness, analysts maintain a “Moderate Buy” consensus, with an average price target of $57.40 versus the recent trading price.
• Brookfield beat quarterly earnings expectations with $0.66 in EPS versus $0.62 expected and continues to pay a quarterly dividend of $0.07 per share, yielding about 0.8%.

Brookfield Corporation (NYSE:BN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $35.61 and last traded at $35.7770, with a volume of 3,579,276 shares trading hands. The stock had previously closed at $36.67.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BN shares. TD upped their price target on Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research report on Monday, September 21st. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the company an "overweight" rating in a research note on Tuesday, July 21st. BMO Capital Markets raised shares of Brookfield to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Scotia upped their price objective on shares of Brookfield from $53.00 to $54.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Brookfield has an average rating of "Moderate Buy" and an average target price of $57.40.

Brookfield Stock Down 2.5%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. The firm has a fifty day moving average price of $39.69 and a 200 day moving average price of $42.47. The firm has a market capitalization of $87.68 billion, a price-to-earnings ratio of 65.01 and a beta of 1.56.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. As a group, sell-side analysts expect that Brookfield Corporation will post 2.93 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, September 14th. Brookfield's payout ratio is presently 50.91%.

Hedge Funds Weigh In On Brookfield

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Silicon Valley Capital Partners acquired a new stake in shares of Brookfield during the 2nd quarter worth about $32,000. Seneschal Advisors LLC lifted its stake in shares of Brookfield by 49.9% during the fourth quarter. Seneschal Advisors LLC now owns 1,012 shares of the company's stock valued at $46,000 after buying an additional 337 shares during the period. Virginia Estate & Retirement Planning Advisors Inc. purchased a new position in shares of Brookfield during the third quarter valued at approximately $46,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Brookfield by 203.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company's stock valued at $50,000 after buying an additional 824 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in Brookfield by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,200 shares of the company's stock worth $55,000 after acquiring an additional 400 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

About Brookfield

Brookfield Corporation NYSE: BN is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield's businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.

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