Brookfield (NYSE:BN) Price Target Raised to $65.00 at Scotiabank

Brookfield (NYSE:BN - Get Free Report) had its target price hoisted by analysts at Scotiabank from $51.25 to $65.00 in a research report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's target price points to a potential upside of 20.28% from the stock's current price.

A number of other brokerages have also recently issued reports on BN. BMO Capital Markets upped their price target on shares of Brookfield from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Royal Bank of Canada reduced their target price on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, August 9th. TD Securities increased their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a "market perform" rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Brookfield has a consensus rating of "Moderate Buy" and a consensus target price of $53.31.

Brookfield Stock Performance

NYSE:BN traded up $0.39 during trading hours on Wednesday, reaching $54.04. The stock had a trading volume of 1,149,481 shares, compared to its average volume of 2,845,792. The stock has a market cap of $88.97 billion, a P/E ratio of 93.17 and a beta of 1.54. Brookfield has a 12-month low of $28.84 and a 12-month high of $56.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The stock has a 50 day simple moving average of $51.62 and a 200 day simple moving average of $46.31.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm's quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. On average, research analysts forecast that Brookfield will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield

Several institutional investors have recently made changes to their positions in the company. M&G Plc acquired a new stake in Brookfield in the first quarter worth about $111,222,000. Cetera Investment Advisers raised its stake in Brookfield by 1,022.6% in the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company's stock valued at $11,427,000 after purchasing an additional 248,506 shares during the last quarter. Forsta AP Fonden raised its stake in Brookfield by 12.8% in the 1st quarter. Forsta AP Fonden now owns 259,800 shares of the company's stock valued at $10,882,000 after purchasing an additional 29,500 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Brookfield by 324.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company's stock worth $4,390,000 after acquiring an additional 80,762 shares during the last quarter. Finally, Norden Group LLC increased its stake in shares of Brookfield by 2,342.0% in the 1st quarter. Norden Group LLC now owns 134,920 shares of the company's stock worth $5,649,000 after acquiring an additional 129,395 shares during the last quarter. Hedge funds and other 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.