Brookfield Co. (NYSE:BN) Sees 27.3% Increase in Short Interest in February

Brookfield Co. (NYSE:BN - Get Free Report) experienced a notable increase in short interest during February. As of February 28th, the total short interest reached 8,760,000 shares. This marks a substantial rise of 27.3% compared to the 6,880,000 shares recorded on February 13th. Currently, about 0.7% of Brookfield's stock is sold short. With an average daily trading volume of 2,460,000 shares, the days-to-cover ratio stands at 3.6 days.

Brookfield Stock Performance

On Monday, shares of NYSE:BN increased by $1.41, closing at $51.81. The trading volume for the day was 2,201,786 shares, which is lower than the average volume of 2,517,187 shares. Over the past few months, Brookfield's stock has shown fluctuations, with its 50-day simple moving average recorded at $57.38 and its 200-day simple moving average at $55.90. The company has a market capitalization of $85.28 billion, a price-to-earnings (P/E) ratio of 172.69, and a beta of 1.65. The stock hit a 52-week low at $38.18 and a high of $62.78. Additional financial metrics include a quick ratio of 1.09, a current ratio of 1.21, and a debt-to-equity ratio of 1.40.

Earnings Results for Brookfield

Brookfield announced its earnings results on February 13th, reporting earnings per share (EPS) of $1.01 for the quarter. This was a positive surprise over the consensus estimate of $0.88, beating it by $0.13. The company achieved a net margin of 0.75% and a return on equity of 3.93%. Analysts expect Brookfield to post 3.85 EPS for the current year.

Brookfield Dividend Announcement

Recently, the company declared a quarterly dividend, which will be paid on March 31st. Investors who are on record as of March 14th will receive a dividend of $0.09. The ex-dividend date is also set for March 14th. Annually, this equates to a dividend of $0.36 with a yield of 0.69%. It should be noted that Brookfield's current dividend payout ratio stands at 120.00%.

Analyst Ratings and Growth Forecasts

Several recent reports from analysts have focused on Brookfield. For instance, Scotiabank raised its price target for Brookfield shares from $69.00 to $71.00 and rated the company as “sector outperform” on February 3rd. TD Securities also raised their target price from $74.00 to $75.00, offering a “buy” rating on February 11th. In addition, CIBC increased its target from $68.00 to $70.00 and rated Brookfield as an “outperformer.” Furthermore, Morgan Stanley began coverage of Brookfield with an “overweight” rating and set a price objective of $80.00. While one research analyst assigned a hold rating, six analysts gave the stock a buy rating. Overall, MarketBeat shows a consensus rating of "Moderate Buy" with an average price target of $64.00.

Institutional Trading Activity

Several hedge funds have recently engaged in trading Brookfield shares. For example, CoreCap Advisors LLC acquired a new stake in Brookfield in the fourth quarter valued at $29,000. Compass Planning Associates Inc also bought a new stake worth $30,000, while FSA Wealth Management LLC looked to enhance its position, acquiring shares valued at $42,000 in the third quarter. Sunbelt Securities Inc. increased its holdings in Brookfield by 164.0% in Q4 and now owns 726 shares valued at $42,000. Prestige Wealth Management Group LLC amplified its stake by 137.0% in the previous quarter, now owning 865 shares worth $46,000. Overall, institutional investors hold 61.60% of the company's stock.

About Brookfield Corporation

Brookfield Corporation is an alternative asset manager that mainly focuses on sectors such as real estate, renewable energy, infrastructure, and venture capital and private equity. The firm provides various public and private investment products and services to institutional and retail clients.

Brookfield, Investing, Stocks