Royal Bank Of Canada Increases Brookfield (NYSE:BN) Price Target to $83.00

Key Points

• Royal Bank of Canada has raised its price target for Brookfield from $81.00 to $83.00, indicating a potential upside of 27.65% from the stock's current price.
• A variety of research firms have issued reports on Brookfield, with target prices ranging from $65.00 to $82.00, reflecting a mix of buy and outperform ratings.
• Brookfield's stock will undergo a 3-2 stock split on October 10th, following an announcement made on August 7th.

Brookfield (NYSE:BN - Get Free Report) had its target price raised by Royal Bank Of Canada from $81.00 to $83.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 27.65% from the stock's current price.

A number of other research analysts also recently issued reports on BN. TD Securities boosted their target price on shares of Brookfield from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Morgan Stanley restated an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. National Bankshares set a $82.00 target price on shares of Brookfield and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Finally, Scotiabank boosted their target price on shares of Brookfield from $69.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $71.00.

Brookfield Trading Up 0.2%

Shares of NYSE:BN traded up $0.12 during trading on Friday, reaching $65.02. 1,180,582 shares of the company were exchanged, compared to its average volume of 2,646,811. The firm has a market capitalization of $107.20 billion, a PE ratio of 232.14 and a beta of 1.70. The business's fifty day simple moving average is $62.73 and its 200-day simple moving average is $57.78. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18. Brookfield has a 12-month low of $43.61 and a 12-month high of $68.75.

Brookfield's stock is going to split before the market opens on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly minted shares will be distributed to shareholders after the market closes on Thursday, October 9th.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.44 billion. On average, research analysts anticipate that Brookfield will post 3.85 EPS for the current year.

Institutional Trading of Brookfield

A number of institutional investors and hedge funds have recently modified their holdings of BN. Advisors Capital Management LLC increased its stake in Brookfield by 3.2% during the 2nd quarter. Advisors Capital Management LLC now owns 7,440 shares of the company's stock worth $460,000 after buying an additional 230 shares in the last quarter. Clearstead Trust LLC grew its stake in Brookfield by 2.9% during the 2nd quarter. Clearstead Trust LLC now owns 18,116 shares of the company's stock valued at $1,120,000 after acquiring an additional 517 shares in the last quarter. First Western Trust Bank purchased a new stake in Brookfield during the 2nd quarter valued at about $224,000. Bailard Inc. grew its stake in Brookfield by 20.8% during the 2nd quarter. Bailard Inc. now owns 8,721 shares of the company's stock valued at $539,000 after acquiring an additional 1,504 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Brookfield by 19.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company's stock valued at $679,852,000 after acquiring an additional 1,770,378 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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