Brookfield (NYSE:BN) Reaches New 1-Year Low - Here's Why

Key Points

• Brookfield shares hit a new 52-week low, falling to $37.87 and last trading near $38.02, well below their 50-day and 200-day moving averages of $42.52 and $43.22.
• Despite the decline, analysts remain generally positive: Brookfield has a consensus “Moderate Buy” rating and an average price target of $57.40, with recent targets ranging as high as $60.
• Brookfield exceeded quarterly earnings expectations with EPS of $0.66 versus $0.62 expected, while declaring a quarterly dividend of $0.07, equivalent to a 0.7% annual yield.

Brookfield Corporation (NYSE:BN - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $37.87 and last traded at $38.0240, with a volume of 645298 shares. The stock had previously closed at $38.52.

Analyst Ratings Changes

Several research analysts recently issued reports on BN shares. BMO Capital Markets raised Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. Scotia upped their price target on Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a research report on Friday, August 14th. Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a research report on Wednesday, June 24th. Scotiabank reaffirmed an "outperform" rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Finally, National Bank Financial upped their target price on Brookfield from $58.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.40.

Brookfield Price Performance

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 business has a fifty day simple moving average of $42.52 and a 200-day simple moving average of $43.22. The stock has a market capitalization of $93.55 billion, a P/E ratio of 69.28 and a beta of 1.53.

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

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 14th. Brookfield's payout ratio is 50.91%.

Institutional Trading of Brookfield

Large investors have recently bought and sold shares of the company. MCF Advisors LLC bought a new position in shares of Brookfield during the 4th quarter worth $26,000. Quattro Advisors LLC bought a new stake in Brookfield in the 4th quarter valued at about $26,000. Truvestments Capital LLC lifted its holdings in Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company's stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Entrust Financial LLC bought a new position in Brookfield during the fourth quarter worth about $35,000. Finally, Delta Asset Management LLC TN boosted its position in Brookfield by 49.8% during the fourth quarter. Delta Asset Management LLC TN now owns 935 shares of the company's stock worth $43,000 after purchasing an additional 311 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Company Profile

Brookfield Corporation NYSE: BN is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.

Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.

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