Brookfield Corporation (NYSE:BN) on Thursday reported better-than-expected first-quarter financial results.
Brookfield reported quarterly earnings of 66 cents per share which beat the analyst consensus estimate of 65 cents per share. The company reported quarterly sales of $18.580 billion which beat the analyst consensus estimate of $1.603 billion.
Nick Goodman, President of Brookfield Corporation, said, “We started the year strong, with good growth in asset management, continued scaling of wealth solutions, and stable cash flows in our operating businesses. We were active in many areas, including the repurchase of over $1 billion of shares year-to-date in the open market—of which $470 million were BN shares and $575 million were BAM shares.”
Brookfield shares fell 4.4% to trade at $45.50 on Friday.
These analysts made changes to their price targets on Brookfield following earnings announcement.
- RBC Capital analyst Bart Dziarski maintained the stock with an Outperform rating and lowered the price target from $63 to $61.
- Scotiabank analyst Mario Saric maintained the stock with a Sector Outperform and raised the price target from $48.5 to $53.
Considering buying BN stock? Here’s what analysts think:
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