Royal Bank of Canada Reiterates Outperform Rating for Brookfield (NYSE:BN)

Brookfield (NYSE:BN)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a report released on Friday, Benzinga reports. They presently have a $53.00 price objective on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 34.86% from the company’s previous close.

A number of other research firms have also issued reports on BN. CIBC raised their price target on shares of Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Canaccord Genuity Group raised their price target on shares of Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research report on Friday, February 9th. TD Securities raised their price target on shares of Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research report on Sunday, February 11th. BMO Capital Markets raised their price objective on shares of Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.45.

Brookfield Stock Performance

BN opened at $39.30 on Friday. Brookfield has a 52-week low of $28.84 and a 52-week high of $43.17. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35. The company has a market cap of $64.48 billion, a P/E ratio of 63.39 and a beta of 1.49. The firm’s 50-day moving average price is $40.88 and its 200-day moving average price is $37.39.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The company had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm posted $1.12 EPS. Brookfield’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Brookfield will post 3.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the sale, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brookfield

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eldred Rock Partners LLC acquired a new stake in Brookfield during the 4th quarter worth $9,868,000. Private Trust Co. NA raised its holdings in shares of Brookfield by 30.5% during the 3rd quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock worth $64,000 after acquiring an additional 480 shares during the period. Salvus Wealth Management LLC raised its holdings in shares of Brookfield by 12.2% during the 3rd quarter. Salvus Wealth Management LLC now owns 110,110 shares of the company’s stock worth $3,443,000 after acquiring an additional 12,007 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Brookfield by 4.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock worth $182,650,000 after acquiring an additional 273,474 shares during the period. Finally, Northside Capital Management LLC purchased a new position in shares of Brookfield during the 4th quarter worth $229,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

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.