Wall Street Zen Downgrades Brookfield (NYSE:BN) to Sell

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

Other research analysts also recently issued reports about the stock. TD Securities lowered their price objective on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Royal Bank Of Canada began coverage on shares of Brookfield in a research report on Wednesday, June 18th. They set an “outperform” rating and a $81.00 price objective for the company. CIBC lowered their price target on shares of Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. lowered their price target on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Scotiabank lowered their price target on shares of Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.13.

Brookfield Trading Down 1.3%

Shares of NYSE:BN opened at $63.12 on Friday. Brookfield has a 12-month low of $42.21 and a 12-month high of $64.55. The stock has a market cap of $104.02 billion, a PE ratio of 225.43 and a beta of 1.66. The business has a 50 day moving average of $59.35 and a 200-day moving average of $56.55. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. As a group, equities research analysts forecast that Brookfield will post 3.85 earnings per share for the current year.

Institutional Trading of Brookfield

Several large investors have recently made changes to their positions in BN. Strategic Wealth Partners Ltd. increased its holdings in Brookfield by 1.7% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company’s stock worth $618,000 after purchasing an additional 170 shares in the last quarter. Haverford Trust Co increased its holdings in Brookfield by 4.7% during the 4th quarter. Haverford Trust Co now owns 4,308 shares of the company’s stock worth $247,000 after purchasing an additional 192 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Brookfield by 1.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company’s stock worth $955,000 after purchasing an additional 197 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in Brookfield by 2.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 7,375 shares of the company’s stock worth $387,000 after purchasing an additional 209 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its holdings in Brookfield by 5.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company’s stock worth $250,000 after purchasing an additional 240 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

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.