Brookfield (NYSE:BN) Sets New 1-Year Low - Here's What Happened

Key Points

• Brookfield shares hit a new 52-week low, falling to $37.02 and last trading near $37.12, below the 50-day and 200-day moving averages.
• Despite the decline, analysts remain broadly bullish, with a “Moderate Buy” consensus rating and an average price target of $57.40, well above the current price.
• Brookfield beat quarterly EPS expectations, reporting $0.66 versus $0.62 expected, and declared a quarterly dividend of $0.07 per share, representing a 0.8% yield.

Brookfield Corporation (NYSE:BN - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The company traded as low as $37.02 and last traded at $37.1150, with a volume of 3765536 shares traded. The stock had previously closed at $37.61.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Scotia raised their target price on Brookfield from $53.00 to $54.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 14th. Morgan Stanley set a $59.00 price target on Brookfield and gave the company an "overweight" rating in a report on Tuesday, July 21st. Scotiabank restated an "outperform" rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. BMO Capital Markets raised Brookfield to a "strong-buy" rating in a research note on Monday, July 27th. Finally, TD Securities reiterated a "buy" rating and set a $60.00 target price on shares of Brookfield in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.40.

Brookfield Stock Down 1.3%

The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The company has a market capitalization of $91.00 billion, a PE ratio of 67.48 and a beta of 1.53. The business has a 50-day moving average of $42.04 and a 200 day moving average of $43.01.

Brookfield (NYSE:BN - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Dividend Announcement

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

Institutional Trading of Brookfield

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its position in Brookfield by 40.5% during the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company's stock valued at $5,215,504,000 after purchasing an additional 32,760,558 shares during the period. Capital World Investors boosted its stake in shares of Brookfield by 45.0% during the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company's stock valued at $4,546,443,000 after purchasing an additional 30,755,354 shares in the last quarter. Norges Bank bought a new position in shares of Brookfield during the fourth quarter valued at approximately $1,227,555,000. TD Asset Management Inc increased its holdings in Brookfield by 46.3% during the fourth quarter. TD Asset Management Inc now owns 35,763,047 shares of the company's stock valued at $1,644,200,000 after buying an additional 11,323,960 shares during the period. Finally, First Manhattan CO. LLC. raised its stake in Brookfield by 47.5% in the fourth quarter. First Manhattan CO. LLC. now owns 23,795,141 shares of the company's stock worth $1,093,985,000 after buying an additional 7,662,565 shares in the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.