Brookfield (NYSE:BN) Releases Earnings Results, Beats Expectations By $0.14 EPS

Brookfield (NYSE:BNGet Free Report) released its earnings results on Thursday. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14, Briefing.com reports. The business had revenue of $24.52 billion during the quarter, compared to the consensus estimate of $1.15 billion. Brookfield had a net margin of 1.18% and a return on equity of 3.29%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS.

Brookfield Price Performance

Shares of BN opened at $40.84 on Friday. Brookfield has a 12-month low of $28.25 and a 12-month high of $41.23. The business’s fifty day moving average is $39.06 and its 200 day moving average is $35.14. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.37. The stock has a market cap of $66.97 billion, a P/E ratio of 65.87 and a beta of 1.50.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be issued a $0.08 dividend. This is a boost from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Tuesday, March 12th. Brookfield’s dividend payout ratio (DPR) is currently 45.16%.

Insider Buying and Selling

In other news, major shareholder Gp Ltd Bcp sold 354,813 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $2.08, for a total transaction of $738,011.04. Following the completion of the sale, the insider now directly owns 28,533,584 shares of the company’s stock, valued at approximately $59,349,854.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Ocm Growth Holdings Llc sold 237,635 shares of Brookfield stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $12.69, for a total value of $3,015,588.15. Following the completion of the sale, the director now owns 16,504,533 shares of the company’s stock, valued at approximately $209,442,523.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Gp Ltd Bcp sold 354,813 shares of Brookfield stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $2.08, for a total value of $738,011.04. Following the completion of the sale, the insider now directly owns 28,533,584 shares of the company’s stock, valued at approximately $59,349,854.72. The disclosure for this sale can be found here. Insiders have sold a total of 6,545,283 shares of company stock worth $22,555,512 in the last ninety days. Corporate insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Brookfield

Large investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC purchased a new position in Brookfield during the 4th quarter valued at about $3,727,998,000. 1832 Asset Management L.P. purchased a new position in Brookfield during the 4th quarter valued at about $775,028,000. Mackenzie Financial Corp purchased a new position in Brookfield during the 4th quarter valued at about $739,834,000. Norges Bank purchased a new position in Brookfield during the 4th quarter valued at about $483,001,000. Finally, Morgan Stanley purchased a new position in Brookfield during the 4th quarter valued at about $267,647,000. Hedge funds and other institutional investors own 58.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on BN shares. TD Securities increased their target price on shares of Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a research report on Sunday. BMO Capital Markets increased their target price on shares of Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods increased their price target on Brookfield from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, November 10th. Royal Bank of Canada increased their price target on Brookfield from $44.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, TheStreet upgraded Brookfield from a “c” rating to a “b” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $47.35.

Check Out Our Latest Analysis on BN

About Brookfield

(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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Earnings History for Brookfield (NYSE:BN)

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