Brookfield (NYSE:BN) Posts Earnings Results, Beats Estimates By $0.13 EPS

Brookfield (NYSE:BN) released its quarterly earnings results on Thursday. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13, Zacks reports. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm had revenue of $22.91 billion for the quarter. During the same period in the prior year, the business earned $0.72 EPS.

Brookfield Stock Performance

NYSE:BN traded down $0.19 during trading hours on Friday, reaching $44.06. 2,824,283 shares of the stock were exchanged, compared to its average volume of 2,833,614. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35. The firm has a 50 day simple moving average of $41.10 and a 200-day simple moving average of $38.59. Brookfield has a 52 week low of $28.84 and a 52 week high of $44.50. The stock has a market capitalization of $72.35 billion, a P/E ratio of 71.05 and a beta of 1.48.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, June 13th. Brookfield’s payout ratio is currently 51.61%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BN shares. Royal Bank of Canada lowered their price objective on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $46.00 price objective (up previously from $45.00) on shares of Brookfield in a report on Friday. Canaccord Genuity Group boosted their price target on Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research note on Friday, February 9th. Scotiabank decreased their price target on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a research note on Friday. Finally, CIBC boosted their price target on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average target price of $48.10.

Insiders Place Their Bets

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now owns 15,492,168 shares in the company, valued at $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

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.