Weiss Ratings Reaffirms "Hold (C-)" Rating for Brookfield (NYSE:BN)

Key Points

• Weiss Ratings has reiterated a "hold (C-)" rating for Brookfield (NYSE:BN), reflecting cautious sentiment toward the stock amidst mixed analyst opinions.
• Several analysts have increased their price targets for Brookfield, with BMO Capital Markets raising it to $69.00 and JPMorgan Chase lifting it to $83.00, indicating a generally positive outlook.
• Shares of Brookfield are scheduled for a 3-2 stock split on October 10th, which may impact trading dynamics and shareholder value.

Brookfield (NYSE:BN - Get Free Report)'s stock had its "hold (c-)" rating reiterated by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research analysts also recently commented on the stock. BMO Capital Markets lifted their price target on shares of Brookfield from $66.00 to $69.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. National Bank Financial started coverage on shares of Brookfield in a research note on Tuesday, July 29th. They set an "outperform" rating and a $82.00 price target on the stock. Wall Street Zen upgraded shares of Brookfield from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. The Goldman Sachs Group started coverage on shares of Brookfield in a report on Tuesday, September 2nd. They issued a "buy" rating and a $78.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Brookfield from $73.00 to $83.00 and gave the company an "overweight" rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $76.70.

Brookfield Stock Performance

NYSE BN traded up $0.36 during trading hours on Wednesday, reaching $68.06. 1,660,433 shares of the company were exchanged, compared to its average volume of 2,613,535. Brookfield has a 1 year low of $43.61 and a 1 year high of $74.20. The business's 50 day simple moving average is $67.13 and its 200-day simple moving average is $60.80. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $112.24 billion, a P/E ratio of 158.28 and a beta of 1.75.

Shares of Brookfield are scheduled to split on the morning of Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly issued shares will be payable to shareholders after the closing bell on Thursday, October 9th.

Brookfield (NYSE:BN - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). Brookfield had a return on equity of 3.77% and a net margin of 1.11%.The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. On average, equities research analysts expect that Brookfield will post 3.85 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield

Hedge funds have recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Brookfield in the 1st quarter worth about $26,000. North Capital Inc. purchased a new position in Brookfield in the 1st quarter worth about $27,000. Hilltop National Bank purchased a new position in Brookfield in the 2nd quarter worth about $30,000. Golden State Wealth Management LLC raised its position in Brookfield by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after buying an additional 296 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Brookfield in the 2nd quarter worth about $32,000. 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.

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.