Brookfield (NYSE:BN) Given New $48.00 Price Target at Royal Bank of Canada

Brookfield (NYSE:BN) had its price objective reduced by equities researchers at Royal Bank of Canada from $50.00 to $48.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 34.38% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. TD Securities raised their price objective on shares of Brookfield from $60.00 to $61.00 and gave the company an “action list buy” rating in a research report on Monday, August 14th. Credit Suisse Group reduced their target price on shares of Brookfield from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, August 31st. Canaccord Genuity Group lowered shares of Brookfield from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, CSFB reduced their price objective on Brookfield from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, August 31st. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $47.60.

Brookfield Price Performance

BN traded up $0.51 during trading on Thursday, reaching $35.72. The stock had a trading volume of 305,112 shares, compared to its average volume of 2,376,266. The stock has a 50 day moving average of $33.86 and a two-hundred day moving average of $32.42. The company has a quick ratio of 1.01, a current ratio of 1.19 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $58.51 billion, a price-to-earnings ratio of 397.11 and a beta of 1.43. Brookfield has a 1-year low of $28.25 and a 1-year high of $50.04.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.75 earnings per share for the quarter. The business had revenue of $23.67 billion during the quarter, compared to analyst estimates of $1.10 billion. Brookfield had a return on equity of 1.80% and a net margin of 0.33%.

Insider Buying and Selling

In other news, major shareholder Opps Eb Holdings Ltd. Ocm sold 3,781,561 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $58.00, for a total value of $219,330,538.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Brookfield

A number of large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its stake in Brookfield by 32.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,349 shares of the company’s stock valued at $45,000 after buying an additional 329 shares during the period. Ritholtz Wealth Management increased its stake in shares of Brookfield by 4.4% in the second quarter. Ritholtz Wealth Management now owns 7,821 shares of the company’s stock worth $263,000 after acquiring an additional 331 shares during the last quarter. RMB Capital Management LLC raised its holdings in shares of Brookfield by 2.1% during the first quarter. RMB Capital Management LLC now owns 16,707 shares of the company’s stock worth $544,000 after acquiring an additional 350 shares in the last quarter. Signaturefd LLC boosted its position in Brookfield by 15.4% during the first quarter. Signaturefd LLC now owns 2,672 shares of the company’s stock valued at $87,000 after purchasing an additional 356 shares during the last quarter. Finally, Retirement Group LLC grew its stake in Brookfield by 0.5% in the second quarter. Retirement Group LLC now owns 80,512 shares of the company’s stock valued at $2,709,000 after purchasing an additional 389 shares in the last quarter. Institutional investors and hedge funds own 58.22% 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.