Brookfield (NYSE:BN) Stock Price Breaks Above Fifty Day Moving Average - Here's Why

Key Points

• Brookfield shares rose above their 50-day moving average, reaching $38.65 compared with the $38.30 average, while trading volume topped 8 million shares.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $57.40; recent targets include Morgan Stanley’s $59.00 and Scotiabank’s $54.00.
• Brookfield exceeded quarterly earnings expectations, reporting $0.66 in EPS versus $0.62 forecast, and paid a quarterly dividend of $0.07 per share, equivalent to a 0.7% annualized yield.

Brookfield Corporation (NYSE:BN - Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $38.30 and traded as high as $38.65. Brookfield shares last traded at $38.4370, with a volume of 8,037,752 shares traded.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Scotiabank reiterated 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 upgraded Brookfield to a "strong-buy" rating in a research note on Monday, July 27th. Morgan Stanley set a $59.00 target price on Brookfield and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brookfield in a report on Monday, September 21st. Finally, Scotia upped their price target 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 equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.40.

Brookfield Stock Performance

The firm's 50-day moving average price is $38.30 and its 200 day moving average price is $42.67. 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 company has a market cap of $94.25 billion, a price-to-earnings ratio of 69.89 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, topping analysts' consensus estimates of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. On average, sell-side analysts anticipate that Brookfield Corporation will post 2.88 EPS for the current 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 issued a dividend of $0.07 per share. The ex-dividend date was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield's dividend payout ratio (DPR) is 50.91%.

Hedge Funds Weigh In On Brookfield

Institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC bought a new position in Brookfield in the third quarter valued at approximately $26,000. Silicon Valley Capital Partners bought a new stake in shares of Brookfield during the second quarter worth $32,000. Kings Path Partners LLC bought a new stake in shares of Brookfield during the third quarter worth $35,000. Annis Gardner Whiting Capital Advisors LLC increased its position 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 worth $50,000 after acquiring an additional 824 shares in the last quarter. Finally, Virginia Estate & Retirement Planning Advisors Inc. acquired a new stake in shares of Brookfield during the third quarter worth $46,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield

Brookfield Corporation NYSE: BN is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield's portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.

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