Scotiabank Has Lowered Expectations for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BN) had its target price cut by equities researchers at Scotiabank from $71.00 to $68.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 47.02% from the stock’s previous close.

A number of other brokerages have also recently issued reports on BN. CIBC lifted their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. TD Securities increased their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley initiated coverage on shares of Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.63.

Brookfield Stock Performance

Shares of NYSE BN traded up $0.01 during trading hours on Monday, reaching $46.25. The stock had a trading volume of 5,364,141 shares, compared to its average volume of 2,922,316. Brookfield has a twelve month low of $38.18 and a twelve month high of $62.78. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The business’s fifty day moving average is $56.03 and its two-hundred day moving average is $56.33. The company has a market cap of $76.16 billion, a price-to-earnings ratio of 154.36 and a beta of 1.60.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. As a group, research analysts expect that Brookfield will post 3.85 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Strategic Wealth Partners Ltd. boosted its holdings in shares of Brookfield by 1.7% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company’s stock valued at $618,000 after buying an additional 170 shares during the last quarter. Haverford Trust Co grew its position in shares of Brookfield by 4.7% in the 4th quarter. Haverford Trust Co now owns 4,308 shares of the company’s stock valued at $247,000 after acquiring an additional 192 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Brookfield by 1.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company’s stock valued at $955,000 after purchasing an additional 197 shares during the period. Pittenger & Anderson Inc. raised its holdings in shares of Brookfield by 14.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company’s stock valued at $90,000 after purchasing an additional 203 shares during the period. Finally, Pinnacle Bancorp Inc. lifted its stake in Brookfield by 29.5% in the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after purchasing an additional 221 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

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.