Royal Bank Of Canada Issues Positive Forecast for Brookfield (NYSE:BN) Stock Price

Key Points

• Royal Bank Of Canada has raised its price target for Brookfield (NYSE:BN) from $55.00 to $57.00, indicating a potential upside of 26.93% from the current stock price.
• Brookfield currently holds a consensus rating of "Buy" among analysts, with three ratings categorized as "Strong Buy" and a consensus target price set at $52.63.
• The stock is currently trading at $44.91, down 0.9%, and has a market cap of $111.09 billion with a high of $49.47 over the past year.

Brookfield (NYSE:BN - Get Free Report) had its price target raised by Royal Bank Of Canada from $55.00 to $57.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 26.93% from the stock's current price.

A number of other brokerages have also issued reports on BN. National Bankshares set a $54.67 target price on Brookfield and gave the company an "outperform" rating in a research report on Tuesday, July 29th. National Bank Financial started coverage on Brookfield in a report on Tuesday, July 29th. They issued an "outperform" rating and a $54.67 price objective on the stock. TD Securities raised their target price on Brookfield from $49.33 to $54.67 and gave the company a "buy" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Brookfield from $48.67 to $55.33 and gave the stock an "overweight" rating in a research note on Friday, October 3rd. Finally, BMO Capital Markets increased their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Brookfield has a consensus rating of "Buy" and a consensus target price of $52.63.

Brookfield Trading Down 0.9%

BN traded down $0.40 on Thursday, hitting $44.91. The company had a trading volume of 542,336 shares, compared to its average volume of 3,872,906. The company's fifty day moving average price is $44.78 and its 200 day moving average price is $40.86. Brookfield has a 1 year low of $29.07 and a 1 year high of $49.47. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 1.50. The firm has a market cap of $111.09 billion, a P/E ratio of 156.77 and a beta of 1.75.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.59 earnings per share for the quarter, meeting analysts' consensus estimates of $0.59. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.44 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. As a group, equities analysts expect that Brookfield will post 3.85 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield

Institutional investors have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Brookfield in the first quarter valued at $26,000. North Capital Inc. purchased a new position in shares of Brookfield in the 1st quarter valued at about $27,000. Hilltop National Bank acquired a new stake in shares of Brookfield during the 2nd quarter worth about $30,000. Golden State Wealth Management LLC raised its position in shares of Brookfield by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after acquiring an additional 296 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Brookfield in the second quarter valued at approximately $32,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

About Brookfield

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.