Scotiabank Boosts Brookfield (NYSE:BN) Price Target to $65.00

Brookfield (NYSE:BN) had its price target boosted by equities researchers at Scotiabank from $51.25 to $65.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 22.60% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. TD Securities boosted their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods upped their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets upped their price target on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.31.

Brookfield Trading Down 1.9 %

NYSE BN opened at $53.02 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The stock’s 50 day moving average is $51.74 and its 200 day moving average is $46.36. Brookfield has a twelve month low of $28.84 and a twelve month high of $56.83. The firm has a market capitalization of $87.29 billion, a PE ratio of 91.41 and a beta of 1.54.

Brookfield (NYSE:BN) last released its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Research analysts forecast that Brookfield will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Brookfield

A number of hedge funds have recently bought and sold shares of BN. M&G Plc purchased a new stake in Brookfield in the first quarter worth about $111,222,000. Cetera Investment Advisers increased its position in Brookfield by 1,022.6% in the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after buying an additional 248,506 shares in the last quarter. Forsta AP Fonden increased its position in Brookfield by 12.8% in the first quarter. Forsta AP Fonden now owns 259,800 shares of the company’s stock worth $10,882,000 after buying an additional 29,500 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Brookfield by 324.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after buying an additional 80,762 shares in the last quarter. Finally, Norden Group LLC increased its position in Brookfield by 2,342.0% in the first quarter. Norden Group LLC now owns 134,920 shares of the company’s stock worth $5,649,000 after buying an additional 129,395 shares in the last quarter. Hedge funds and other 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.