Scotiabank Lowers Brookfield (NYSE:BN) Price Target to $68.00

Brookfield (NYSE:BN) had its target price dropped by stock analysts at Scotiabank from $71.00 to $68.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 47.02% from the company’s previous close.

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

Brookfield Price Performance

NYSE BN traded up $0.01 on Monday, reaching $46.25. The company’s stock had a trading volume of 5,364,141 shares, compared to its average volume of 2,922,316. The firm’s 50 day moving average is $56.03 and its two-hundred day moving average is $56.33. The stock has a market cap of $76.16 billion, a PE ratio of 154.36 and a beta of 1.60. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. Brookfield has a twelve month low of $38.18 and a twelve month high of $62.78.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BN. Versant Capital Management Inc grew its position in shares of Brookfield by 2,029.3% in the first quarter. Versant Capital Management Inc now owns 873 shares of the company’s stock valued at $46,000 after purchasing an additional 832 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Brookfield by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 115,648 shares of the company’s stock worth $6,644,000 after buying an additional 2,608 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Brookfield during the fourth quarter worth approximately $16,959,000. Capital A Wealth Management LLC bought a new stake in shares of Brookfield in the fourth quarter valued at approximately $235,000. Finally, Shufro Rose & Co. LLC acquired a new stake in shares of Brookfield in the fourth quarter worth $237,000. 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.