Brookfield (NYSE:BN) Given a $58.00 Price Target by Royal Bank Of Canada Analysts

Royal Bank Of Canada set a $58.00 price target on Brookfield (NYSE:BN) in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other brokerages also recently commented on BN. Wall Street Zen downgraded Brookfield from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their price target on Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a research note on Friday, October 3rd. TD Securities raised their price target on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 14th. Finally, Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Two equities research 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’s stock. According to MarketBeat, Brookfield currently has a consensus rating of “Buy” and a consensus price target of $53.87.

Brookfield Stock Performance

BN stock opened at $46.92 on Monday. The firm has a 50 day simple moving average of $46.36 and a 200 day simple moving average of $45.39. Brookfield has a 52 week low of $29.07 and a 52 week high of $49.56. The stock has a market cap of $116.21 billion, a P/E ratio of 130.33 and a beta of 1.58. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31.

Brookfield (NYSE:BN) last released its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) 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 the consensus estimate of $1.58 billion. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. Research analysts anticipate that Brookfield will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, December 16th. Brookfield’s dividend payout ratio is 66.67%.

Institutional Trading of Brookfield

Several hedge funds have recently added to or reduced their stakes in BN. Norges Bank bought a new position in Brookfield in the 2nd quarter worth approximately $1,040,160,000. Lone Pine Capital LLC acquired a new stake in shares of Brookfield in the second quarter worth $347,683,000. Canada Pension Plan Investment Board increased its position in Brookfield by 132.5% during the second quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock worth $405,065,000 after acquiring an additional 3,727,628 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Brookfield during the 3rd quarter valued at $171,104,000. Finally, Picton Mahoney Asset Management acquired a new position in Brookfield during the 2nd quarter valued at $140,555,000. Institutional investors 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.