Brookfield (NYSE:BN) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Brookfield (NYSE:BN – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other analysts have also recently weighed in on BN. JPMorgan Chase & Co. dropped their price target on Brookfield from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Scotiabank lowered their target price 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. CIBC lowered their target price on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research report on Friday, May 9th. Royal Bank Of Canada started coverage on Brookfield in a research report on Wednesday, June 18th. They issued an “outperform” rating and a $81.00 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating on shares of Brookfield in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.13.

Read Our Latest Research Report on BN

Brookfield Trading Up 1.1%

NYSE:BN opened at $63.87 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. The business’s 50 day moving average is $59.35 and its two-hundred day moving average is $56.53. Brookfield has a 52 week low of $42.21 and a 52 week high of $64.55. The company has a market cap of $105.26 billion, a PE ratio of 228.12 and a beta of 1.66.

Brookfield (NYSE:BN – Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, analysts predict that Brookfield will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.56%. Brookfield’s payout ratio is presently 128.57%.

Institutional Investors Weigh In On Brookfield

A number of institutional investors have recently modified their holdings of BN. GAMMA Investing LLC increased its holdings in Brookfield by 16.6% in the first quarter. GAMMA Investing LLC now owns 2,282 shares of the company’s stock worth $120,000 after buying an additional 325 shares during the last quarter. Inscription Capital LLC bought a new stake in Brookfield in the first quarter worth approximately $285,000. Assenagon Asset Management S.A. raised its holdings in shares of Brookfield by 0.7% during the 1st 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. Golden State Wealth Management LLC raised its holdings in shares of Brookfield by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company’s stock valued at $31,000 after purchasing an additional 296 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Brookfield by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,466,685 shares of the company’s stock valued at $129,279,000 after purchasing an additional 23,590 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Company Profile

(Get Free Report)

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.

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