Morgan Stanley Lowers Brookfield (NYSE:BN) Price Target to $61.00

Brookfield (NYSE:BN) had its price objective decreased by investment analysts at Morgan Stanley from $83.00 to $61.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 23.85% from the company’s previous close.

BN has been the subject of several other research reports. TD Securities raised their price target on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Scotiabank dropped their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 7th. Finally, CIBC boosted their target price on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.25.

Brookfield Stock Performance

Brookfield stock opened at $49.25 on Monday. The stock’s 50 day moving average is $53.79 and its 200 day moving average is $55.97. The company has a market capitalization of $81.11 billion, a P/E ratio of 164.19 and a beta of 1.60. Brookfield has a twelve month low of $38.18 and a twelve month high of $62.78. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, equities research analysts predict that Brookfield will post 3.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield

Several institutional investors have recently made changes to their positions in the business. Simon Quick Advisors LLC increased its holdings in Brookfield by 14.1% during the first quarter. Simon Quick Advisors LLC now owns 8,918 shares of the company’s stock valued at $467,000 after buying an additional 1,103 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Brookfield by 0.7% during the first quarter. Assenagon Asset Management S.A. now owns 43,333 shares of the company’s stock valued at $2,267,000 after purchasing an additional 297 shares in the last quarter. Manitou Investment Management Ltd. increased its position in Brookfield by 61.9% in the first quarter. Manitou Investment Management Ltd. now owns 54,006 shares of the company’s stock worth $2,830,000 after buying an additional 20,640 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Brookfield by 16.6% during the 1st quarter. GAMMA Investing LLC now owns 2,282 shares of the company’s stock valued at $120,000 after buying an additional 325 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Brookfield by 53.0% during the 1st quarter. Farther Finance Advisors LLC now owns 5,135 shares of the company’s stock valued at $276,000 after acquiring an additional 1,778 shares during the period. Institutional investors 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.