Brookfield (NYSE:BN) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Brookfield (NYSE:BN) from a hold rating to a strong sell rating in a research note published on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley set a $54.00 target price on shares of Brookfield and gave the company an “overweight” rating in a report on Monday, October 13th. Royal Bank Of Canada lifted their price target on Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. CIBC reissued an “outperform” rating and set a $52.00 price objective (up previously from $50.67) on shares of Brookfield in a report on Friday, November 14th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Finally, The Goldman Sachs Group assumed coverage on Brookfield in a research report on Tuesday, September 2nd. They set a “buy” rating and a $52.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average price target of $53.47.

Brookfield Price Performance

NYSE BN opened at $45.64 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.54. The company has a market cap of $112.99 billion, a PE ratio of 126.76 and a beta of 1.57. Brookfield has a 52 week low of $29.07 and a 52 week high of $49.47. The firm’s 50-day simple moving average is $45.56 and its two-hundred day simple moving average is $43.93.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Research analysts predict that Brookfield will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, December 16th. Brookfield’s payout ratio is currently 66.67%.

Institutional Trading of Brookfield

Hedge funds have recently made changes to their positions in the stock. Hilltop National Bank bought a new position in shares of Brookfield during the 2nd quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Brookfield in the second quarter worth approximately $32,000. Ameritas Advisory Services LLC purchased a new stake in Brookfield in the second quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC grew its position in Brookfield by 109.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after acquiring an additional 330 shares during the last quarter. Finally, First Horizon Corp purchased a new position in shares of Brookfield during the third quarter worth approximately $40,000. 61.60% of the stock is owned by institutional investors.

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.