Scotiabank Lowers Brookfield (NYSE:BN) Price Target to $48.50

Brookfield (NYSE:BN) had its target price cut by investment analysts at Scotiabank from $52.00 to $48.50 in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 22.30% from the company’s current price.

Several other research firms have also issued reports on BN. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. Morgan Stanley restated an “overweight” rating and set a $60.00 target price on shares of Brookfield in a report on Tuesday, February 17th. BMO Capital Markets upped their price target on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average target price of $54.20.

Brookfield Stock Performance

NYSE BN opened at $39.66 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. Brookfield has a 1-year low of $29.07 and a 1-year high of $49.56. The firm has a market capitalization of $97.14 billion, a P/E ratio of 80.38 and a beta of 1.58. The business’s 50-day simple moving average is $44.08 and its 200-day simple moving average is $45.28.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. Equities analysts predict that Brookfield will post 3.85 EPS for the current year.

Hedge Funds Weigh In On Brookfield

Several institutional investors and hedge funds have recently made changes to their positions in BN. Partners Value Investments L.P. boosted its stake in Brookfield by 50.0% during the 4th quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock valued at $8,324,719,000 after acquiring an additional 60,468,651 shares during the last quarter. Dodge & Cox bought a new stake in shares of Brookfield in the 4th quarter worth about $1,894,354,000. Royal Bank of Canada increased its position in shares of Brookfield by 40.5% in the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after purchasing an additional 32,760,558 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Brookfield by 52.1% in the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Brookfield by 45.0% during the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after purchasing an additional 30,755,354 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.