Wall Street Zen Upgrades Brookfield (NYSE:BN) to Hold

Brookfield (NYSE:BN) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities research analysts also recently weighed in on BN. BMO Capital Markets restated an “outperform” rating and issued a $49.00 target price (up from $46.00) on shares of Brookfield in a research report on Wednesday, December 17th. TD Securities boosted their price objective on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. upped their price objective on Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a report on Friday, October 3rd. Royal Bank Of Canada set a $58.00 target price on Brookfield and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $54.27.

Brookfield Stock Performance

Shares of BN opened at $45.56 on Friday. The firm has a market capitalization of $112.84 billion, a PE ratio of 126.56 and a beta of 1.58. 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 firm has a 50-day moving average price of $46.58 and a 200 day moving average price of $45.47. Brookfield has a 52-week low of $29.07 and a 52-week high of $49.56.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. On average, sell-side analysts anticipate that Brookfield will post 3.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after buying an additional 31,543,313 shares during the period. Norges Bank acquired a new position in shares of Brookfield in the second quarter worth about $1,040,160,000. Lone Pine Capital LLC purchased a new position in shares of Brookfield in the second quarter worth approximately $347,683,000. Canada Pension Plan Investment Board raised its holdings in shares of Brookfield by 132.5% during the second quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock valued at $405,065,000 after acquiring an additional 3,727,628 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Brookfield during the third quarter valued at approximately $171,104,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

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.