Brookfield Corporation [BN] Stock trading around $40.91 per share: What’s Next?

Brookfield Corporation [NYSE: BN] gained 1.72% or 0.69 points to close at $40.91 with a heavy trading volume of 7880462 shares. The company report on January 9, 2024 at 8:00 AM that Brookfield Property Partners Announces Commencement of Normal Course Issuer Bid to Purchase Preferred Units.

Brookfield is commencing this normal course issuer bid because it believes that, from time to time, the market price of its Preferred Units may not fully reflect the underlying value of its current business and future prospects. Brookfield believes that, in such circumstances, the outstanding Preferred Units represent an attractive investment for the company, since a portion of its excess cash generated on an annual basis can be invested for an attractive risk-adjusted return through the normal course issuer bid.

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The daily chart for BN points out that the company has recorded 15.53% gains over the past six months.

If we look at the average trading volume of 2.46M shares, BN reached to a volume of 7880462 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Brookfield Corporation [BN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BN shares is $45.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Brookfield Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 11, 2023.

The Average True Range (ATR) for Brookfield Corporation is set at 0.91, with the Price to Sales ratio for BN stock in the period of the last 12 months amounting to 0.64. The Price to Book ratio for the last quarter was 1.58, with the Price to Cash per share for the same quarter was set at 11.01. Price to Free Cash Flow for BN in the course of the last twelve months was 127.01.

Trading performance analysis for BN stock

Brookfield Corporation [BN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.52. With this latest performance, BN shares gained by 2.15% in over the last four-week period, additionally plugging by 15.53% over the last 6 months – not to mention a rise of 11.47% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BN stock in for the last two-week period is set at 67.95, with the RSI for the last a single of trading hit 72.14, and the three-weeks RSI is set at 65.91 for Brookfield Corporation [BN]. The present Moving Average for the last 50 days of trading for this stock 37.51, while it was recorded at 40.27 for the last single week of trading, and 33.77 for the last 200 days.

Brookfield Corporation [BN]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Brookfield Corporation posted -0.31/share EPS, while the average EPS was predicted by analysts to be reported at 0.93/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -133.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BN.

An analysis of Institutional ownership at Brookfield Corporation [BN]

The top three institutional holders of BN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BN stock with ownership which is approximately 5.8325%.