Brookfield (BN, Financial) has secured approval from the Toronto Stock Exchange to renew its normal course issuer bid, allowing it to repurchase up to 143,027,158 of its Class A Limited Voting Shares. This figure represents 10% of the public float of Brookfield's Class A Shares in circulation. The repurchase plan will be executed on the open market via the TSX, the New York Stock Exchange, and other trading systems, commencing from May 27, 2025, through May 26, 2026, unless completed earlier.
Purchases will be made at the prevailing market prices or any other permissible price. As of May 15, 2025, Brookfield had 1,647,846,059 Class A Shares issued, with 1,430,271,580 comprising the public float. The TSX rules limit daily purchases to 456,420 shares, which equals 25% of an average daily trading volume of 1,825,680 shares.
Under the previous share buyback program initiated on May 27, 2024, and concluding on May 26, 2025, Brookfield acquired 22,200,979 shares by May 15, 2025. This includes 2,835,555 shares from the TSX and 19,365,424 from the NYSE, at an average of $51.20 per share.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Brookfield Corp (BN, Financial) is $65.00 with a high estimate of $74.00 and a low estimate of $41.00. The average target implies an upside of 13.70% from the current price of $57.17. More detailed estimate data can be found on the Brookfield Corp (BN) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, Brookfield Corp's (BN, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Brookfield Corp (BN, Financial) in one year is $38.97, suggesting a downside of 31.83% from the current price of $57.17. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Brookfield Corp (BN) Summary page.
BN Key Business Developments
Release Date: May 08, 2025
- Distributable Earnings Before Realizations: Increased 30% to $1.3 billion or $0.82 per share for the quarter.
- Total Distributable Earnings: $1.5 billion or $0.98 per share for the quarter.
- Net Income: $1.5 billion over the last 12 months.
- Fee Bearing Capital: Grew to $549 billion, a 20% increase over the last 12 months.
- Fee-Related Earnings: Reached a record $698 million, a 26% growth.
- Real Estate Same-Store Net Operating Income Growth: 3% over the same period last year.
- Real Estate Occupancy Levels: Remain high at 95%.
- Office and Retail Leases Signed: Close to 9 million square feet during the quarter.
- Share Repurchases: $850 million of shares repurchased to date this year.
- Quarterly Dividend: $0.09 per share declared, payable at the end of June.
- Assets Under Management in Wealth Solutions: Over $140 billion.
- Annualized Earnings in Wealth Solutions: $1.7 billion.
- Statutory Capital in Wealth Solutions: In excess of $16 billion.
- Retail and Institutional Annuities Originated: $4 billion during the quarter.
- Accumulated Unrealized Carried Interest: Increased to $11.6 billion.
- Asset Sales Closed: Approximately $22 billion across the business.
- Capital Raised: $25 billion during the quarter, contributing to over $140 billion raised over the past 12 months.
- Deployable Capital: Record $165 billion available.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Distributable earnings before realizations increased by 30% to $1.3 billion, or $0.82 per share for the quarter.
- The Asset Management business delivered strong earnings growth with $684 million in distributions for the quarter.
- Brookfield Wealth Solutions achieved a regulatory license to launch in the UK, marking a significant expansion opportunity.
- The company has a record $165 billion of capital ready to deploy, positioning it well for future investments.
- Real estate business experienced strong rental growth and higher occupancy rates, with significant lease-up activity in New York.
Negative Points
- Trade policy volatility has created uncertainty in capital markets, impacting the macroeconomic environment.
- The current environment may impact the timing certainty of monetizations, potentially affecting transaction activity.
- Insurance platforms are now trading at higher valuations, making acquisitions less attractive compared to previous opportunities.
- The capital markets experienced a temporary pause, affecting financing activities for a few weeks.
- Despite strong fundamentals, the real estate market faces challenges due to limited new quality supply and tenant demand.
