Royal Bank Of Canada Initiates Coverage on Brookfield (NYSE:BN)

Equities research analysts at Royal Bank Of Canada assumed coverage on shares of Brookfield (NYSE:BNGet Free Report) in a research note issued on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $81.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 36.26% from the company’s current price.

Several other equities analysts have also commented on BN. Scotiabank decreased their price target on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. decreased their target price on Brookfield from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley reissued an “overweight” rating on shares of Brookfield in a research note on Monday, May 19th. CIBC decreased their target price on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research note on Friday, May 9th. Finally, TD Securities decreased their target price on Brookfield from $77.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.13.

Check Out Our Latest Research Report on Brookfield

Brookfield Stock Performance

NYSE BN opened at $59.45 on Wednesday. The stock’s fifty day moving average is $55.91 and its two-hundred day moving average is $56.17. The firm has a market capitalization of $97.97 billion, a P/E ratio of 212.31 and a beta of 1.66. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. Brookfield has a fifty-two week low of $40.04 and a fifty-two week high of $62.78.

Brookfield (NYSE:BNGet Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. On average, research analysts anticipate that Brookfield will post 3.85 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield

A number of institutional investors have recently made changes to their positions in the stock. Inscription Capital LLC acquired a new position in Brookfield in the first quarter valued at $285,000. Allspring Global Investments Holdings LLC increased its stake in Brookfield by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 78,682 shares of the company’s stock valued at $4,520,000 after purchasing an additional 974 shares during the last quarter. GAMMA Investing LLC increased its stake in Brookfield by 6,011.4% in the first quarter. GAMMA Investing LLC now owns 119,600 shares of the company’s stock valued at $6,268,000 after purchasing an additional 117,643 shares during the last quarter. Regents of The University of California acquired a new position in Brookfield in the fourth quarter valued at $154,140,000. Finally, SVB Wealth LLC acquired a new position in Brookfield in the fourth quarter valued at $210,000. 61.60% of the stock is owned by institutional investors and hedge funds.

About Brookfield

(Get Free Report)

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.

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