Brookfield (NYSE:BN) Reaches New 52-Week Low - Here's Why

Key Points

• Brookfield shares fell to a new 52-week low of $36.57, trading below both their 50-day and 200-day moving averages. The stock was recently valued at about $89.2 billion, with a beta of 1.53.
• Despite the decline, analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $57.40; recent targets range from $54 to $59.
• Brookfield exceeded quarterly earnings expectations, reporting $0.66 in EPS versus $0.62 expected, and declared a quarterly dividend of $0.07 per share, representing a 0.8% annualized yield.

Brookfield Corporation (NYSE:BN - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $36.57 and last traded at $36.6670, with a volume of 344686 shares changing hands. The stock had previously closed at $37.09.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BN shares. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research report on Monday. Scotiabank reaffirmed an "outperform" rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Scotia lifted their price objective on shares of Brookfield from $53.00 to $54.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 14th. BMO Capital Markets raised shares of Brookfield to a "strong-buy" rating in a report on Monday, July 27th. Finally, Morgan Stanley set a $59.00 target price on Brookfield and gave the company an "overweight" rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.40.

Brookfield Stock Down 1.9%

The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $89.18 billion, a PE ratio of 66.30 and a beta of 1.53. The business's 50-day simple moving average is $41.31 and its 200-day simple moving average is $42.75.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. The business had revenue of $1.66 billion during 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%. As a group, equities research analysts anticipate that Brookfield Corporation will post 2.93 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Brookfield's dividend payout ratio (DPR) is presently 50.91%.

Institutional Investors Weigh In On Brookfield

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Brookfield by 40.5% during the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company's stock worth $5,215,504,000 after acquiring an additional 32,760,558 shares in the last quarter. Capital World Investors raised its holdings in Brookfield by 45.0% in the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company's stock worth $4,546,443,000 after purchasing an additional 30,755,354 shares during the period. TD Asset Management Inc raised its holdings in Brookfield by 46.3% in the 4th quarter. TD Asset Management Inc now owns 35,763,047 shares of the company's stock worth $1,644,200,000 after purchasing an additional 11,323,960 shares during the period. Akre Capital Management LLC boosted its position in Brookfield by 39.7% during the fourth quarter. Akre Capital Management LLC now owns 26,843,633 shares of the company's stock worth $1,231,854,000 after purchasing an additional 7,627,692 shares in the last quarter. Finally, Norges Bank purchased a new position in Brookfield during the fourth quarter worth approximately $1,227,555,000. Institutional investors and hedge funds own 61.60% of the company's stock.

About Brookfield

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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