Investment firm Wall Street Zen has upgraded shares of Brookfield Corporation (NYSE: BN) from a sell rating to a hold rating, according to a research note released on Saturday. This decision comes at a time when several analysts are reassessing the company’s performance and outlook.
On October 13, Morgan Stanley set a price target of $54.00 for Brookfield, classifying the stock as “overweight.” This follows a series of ratings from other equity research analysts. For instance, on December 22, Weiss Ratings reaffirmed a “hold (c)” rating, while CIBC reissued an “outperform” rating and adjusted its price target to $52.00, up from $50.67 on November 14.
Conversely, Zacks Research downgraded Brookfield from a “hold” rating to a “strong sell” on December 11. The Royal Bank of Canada also maintained an “outperform” rating and raised its price objective to $58.00, up from $57.00. Currently, out of a total of 14 analysts, two have issued a Strong Buy rating, ten have rated the stock as Buy, one has assigned a Hold rating, and one has given a Sell rating. According to MarketBeat, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $53.87.
Recent Earnings and Dividend Announcement
Brookfield recently reported its quarterly earnings on November 13, revealing earnings per share (EPS) of $0.63, exceeding analysts’ expectations of $0.61 by $0.02. The company recorded a revenue of $1.59 billion, slightly above the consensus estimate of $1.58 billion. The return on equity stood at 3.92%, with a net margin of 1.34%. Analysts predict Brookfield will post an EPS of 3.85 for the current year.
In addition to its financial results, Brookfield has announced a quarterly dividend of $0.06, scheduled for payment on December 31. Shareholders of record on December 16 will receive this dividend, which translates to an annualized dividend of $0.24 and a yield of 0.5%. The company’s dividend payout ratio (DPR) is currently 66.67%.
Institutional Investor Activity
Recent changes among institutional investors have also influenced Brookfield’s stock position. Hilltop National Bank acquired a new stake valued at approximately $30,000 during the second quarter. Similarly, Twin Peaks Wealth Advisors LLC invested $32,000, while Ameritas Advisory Services LLC purchased shares worth $33,000.
Additionally, Cary Street Partners Investment Advisory LLC increased its stake in Brookfield by 109.3% during the same quarter, now holding 632 shares valued at $39,000 after acquiring an additional 330 shares. Finally, First Horizon Corp made a new investment worth about $40,000 in the third quarter. Overall, institutional investors currently hold 61.60% of Brookfield’s shares.
Brookfield Corporation operates as a global alternative asset manager, focusing on real assets across various sectors, including real estate, infrastructure, renewable power, and private equity. Its investment strategy encompasses both ownership and active management of physical assets, along with the operation of investment funds that facilitate access to long-lived, cash-generating assets for institutional and retail investors.
