Brookfield (TSE:BN) Shares Down 0.6% - Here's What Happened

Key Points

• Brookfield shares fell 0.6% to C$58.27 during Wednesday trading, with volume 36% below the average daily level. The company has a C$130.15 billion market capitalization.
• Analyst sentiment remains positive, with an average rating of “Strong Buy” and an average price target of C$58.50. RBC lowered its target to C$61.00, while BMO upgraded the stock to “strong buy.”
• Brookfield reported quarterly earnings of C$0.94 per share on C$27.57 billion in revenue. Insiders sold 296,600 shares worth approximately C$18.4 million over the past 90 days, while insiders retain a 19.11% ownership stake.

Brookfield Co. (TSE:BN - Get Free Report)'s share price fell 0.6% during trading on Wednesday . The stock traded as low as C$58.13 and last traded at C$58.27. 1,842,769 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 2,864,893 shares. The stock had previously closed at C$58.60.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BN. Royal Bank Of Canada decreased their target price on Brookfield from C$63.00 to C$61.00 and set a "moderate buy" rating for the company in a research report on Friday, May 15th. BMO Capital Markets upgraded shares of Brookfield to a "strong-buy" rating in a report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Strong Buy" and an average target price of C$58.50.

Brookfield Trading Down 0.6%

The firm has a market cap of C$130.15 billion, a P/E ratio of 107.91 and a beta of 1.60. The business has a 50-day moving average price of C$61.15 and a 200-day moving average price of C$60.72.

Brookfield (TSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported C$0.94 earnings per share for the quarter. Brookfield had a return on equity of 3.05% and a net margin of 1.80%.The firm had revenue of C$27.57 billion during the quarter. On average, equities analysts anticipate that Brookfield Co. will post 6.4136752 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey Miles Blidner sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of C$63.79, for a total transaction of C$95,685.00. Following the transaction, the director directly owned 1,242,259 shares in the company, valued at approximately C$79,243,701.61. This trade represents a 0.12% decrease in their ownership of the stock. Also, Director Jack Lynn Cockwell sold 116,700 shares of Brookfield stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$61.52, for a total transaction of C$7,179,384.00. Following the transaction, the director directly owned 55,597,851 shares in the company, valued at approximately C$3,420,379,793.52. The trade was a 0.21% decrease in their ownership of the stock. In the last 90 days, insiders sold 296,600 shares of company stock valued at $18,432,796. Company insiders own 19.11% of the company's stock.

About Brookfield

Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Asset Management, Wealth Solutions, and our Operating Businesses which are in energy, infrastructure, private equity, and real estate. We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities.

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