Brookfield stock: Earnings rise as JPMorgan trims target

Brookfield Corporation reported stronger third-quarter results on November 12, giving investors a fresh view of earnings growth, fundraising and capital deployment. The company said total distributable earnings reached 1.7 billion US dollars, up 16 percent from the year-earlier quarter. The figures covered the period ended September 30.

According to Brookfield Corporation, distributable earnings before realizations rose 14 percent per share to 1.5 billion US dollars, or 0.64 US dollars per share. Net income was 1.9 billion US dollars. The asset management business raised 25 billion US dollars during the quarter, while fee-bearing capital reached 682 billion US dollars.

Capital raising remains central

Management also highlighted 54 billion US dollars of deployment and 20 billion US dollars of asset monetizations during the quarter. Realized net carried interest contributed 222 million US dollars to earnings. These figures keep fundraising, asset management fees and realizations at the center of the investment case.

On November 13, Markets Insider reported that JPMorgan analyst Kenneth Worthington lowered the price target to 64 US dollars from 65 US dollars while maintaining an Overweight rating. The move adds a more cautious near-term signal to a week dominated by Brookfield's operating update.

Brookfield stock traded at 37.17 euros on Lang & Schwarz at 10:48 CET on Saturday, November 14.

Canadian equities remain the broader market context for Brookfield, alongside developments in global infrastructure, energy and financial services. See current S&P/TSX Composite coverage for the wider market.

For further company coverage, see More news and analyses on Brookfield Corporation stock.