Brookfield Corporation (NYSE: BN) stock jumped 0.98% on Thursday to $30.92 against a previous-day closing price of $30.62. With 2.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.7 million shares. During the session, the Asset Management company that operates in wider Financial sector, reached to the highest price of $31.13 whereas the lowest price it dropped to was $30.26. The 52-week range on BN shows that it touched its highest point at $44.05 and its lowest point at $28.25 during that stretch. It currently has a 1-year price target of $48.30. With its current market cap of 50.54 billion, BN has annualized dividend of $0.28 while the current yield stands at 0.91%. Beta for the stock currently stands at 1.42.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BN was up-trending over the past week, with a rise of 0.52%, but this was down by -0.16% over a month. Three-month performance dropped to -8.41% while six-month performance fell -15.08%. The stock lost -18.96% in the past year, while it has lost -1.72% so far this year. A look at the trailing 12-month EPS for BN yields 0.41 with Next year EPS estimates of 3.57. For the next quarter, that number is 0.78. This implies an EPS growth rate of -50.60% for this year and 15.92% for next year. EPS is expected to grow by 18.50% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 5.80%.
Float and Shares Shorts:
At present, 1.57 billion BN shares are outstanding with a float of 1.38 billion shares on hand for trading. On Apr 27, 2023, short shares totaled 10.5 million, which was 0.67% higher than short shares on Mar 30, 2023. In addition to Mr. James Bruce Flatt as the firm’s Managing Partner, CEO & Director, Mr. Nicholas H. Goodman C.A. serves as its Pres & CFO.
Through their ownership of 60.28% of BN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 32.64% of BN, in contrast to 28.84% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in BN with 8.56% of the stake, Brookfield Asset Management PIC C holds 133,722,910 shares worth 133,722,910. A second-largest stockholder of BN, RBC Global Asset Management, Inc., holds 58,791,203 shares, controlling over 3.76% of the firm’s shares. Principal Global Investors LLC is the third largest shareholder in BN, holding 53,020,933 shares or 3.39% stake. With a 1.38% stake in BN, the Principal Funds, Inc. – Mid Cap F is the largest stakeholder. A total of 21,515,420 shares are owned by the mutual fund manager. The Vanguard Total International Stoc, which owns about 1.13% of BN stock, is the second-largest Mutual Fund holder. It holds 17,648,644 shares valued at 572.87 million. Akre Focus Fund holds 1.09% of the stake in BN, owning 17,000,000 shares worth 551.82 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, BN reported revenue of $23.26B and operating income of $3.39B. The EBITDA in the recently reported quarter was $6.30B and diluted EPS was $0.34.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BN analysts setting a high price target of $69.00 and a low target of $33.00, the average target price over the next 12 months is $47.57. Based on these targets, BN could surge 123.16% to reach the target high and rise by 6.73% to reach the target low. Reaching the average price target will result in a growth of 53.85% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded BN stock several times over the past three months with 38 Buys and 0 Sells. In these transactions, 44,822 shares were bought while 0 shares were sold. The number of buy transactions has increased to 284 while that of sell transactions has risen to 105 over the past year. The total number of shares bought during that period was 138,255,569 while 158,267,383 shares were sold.