Brookfield Co. (NYSE:BN) Short Interest Update

Brookfield Co. (NYSE:BN) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 11,390,000 shares, an increase of 10.3% from the August 31st total of 10,330,000 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average daily volume of 3,310,000 shares, the days-to-cover ratio is presently 3.4 days.

Brookfield Stock Performance

Brookfield stock traded down $0.06 during midday trading on Tuesday, reaching $53.09. 1,894,559 shares of the company traded hands, compared to its average volume of 3,019,372. The firm has a market capitalization of $87.26 billion, a price-to-earnings ratio of 87.03 and a beta of 1.53. The business has a 50 day moving average of $48.35 and a two-hundred day moving average of $44.44. Brookfield has a 12 month low of $28.84 and a 12 month high of $54.29. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. As a group, research analysts predict that Brookfield will post 3.84 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were given a $0.08 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.60%. Brookfield’s payout ratio is presently 52.46%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Gilbert & Cook Inc. increased its stake in shares of Brookfield by 5.4% in the fourth quarter. Gilbert & Cook Inc. now owns 35,468 shares of the company’s stock worth $1,423,000 after purchasing an additional 1,833 shares in the last quarter. Commerce Bank increased its stake in shares of Brookfield by 32.3% in the fourth quarter. Commerce Bank now owns 10,480 shares of the company’s stock worth $420,000 after purchasing an additional 2,557 shares in the last quarter. Focus Financial Network Inc. ADV purchased a new stake in shares of Brookfield in the fourth quarter worth $216,000. Dorsey & Whitney Trust CO LLC increased its stake in shares of Brookfield by 5.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 10,475 shares of the company’s stock worth $420,000 after purchasing an additional 512 shares in the last quarter. Finally, Qtron Investments LLC purchased a new stake in shares of Brookfield in the fourth quarter worth $342,000. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BN. JPMorgan Chase & Co. raised their price target on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. TD Securities raised their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Scotiabank raised their price target on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada cut their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $51.59.

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.