Brookfield (TSE:BN) Stock Price Down 1.7% - Here's Why

Key Points

• Brookfield shares fell 1.7% on Friday, trading as low as C$60.65 and ending at C$61.17 on lighter-than-usual volume.
• Royal Bank of Canada trimmed its price target on Brookfield to C$61.00 from C$63.00, while keeping a “moderate buy” rating; MarketBeat says the consensus rating remains “Buy.”
• Insider trading was mixed: one director bought shares in May, but another sold a large stake in June, and insiders have sold a net 296,600 shares over the last 90 days.

Brookfield Co. (TSE:BN - Get Free Report)'s stock price dropped 1.7% during trading on Friday . The company traded as low as C$60.65 and last traded at C$61.17. 1,989,984 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 2,871,385 shares. The stock had previously closed at C$62.24.

Analyst Ratings Changes

Separately, Royal Bank Of Canada dropped their price objective on shares of Brookfield from C$63.00 to C$61.00 and set a "moderate buy" rating for the company in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$58.50.

Brookfield Price Performance

The company has a 50 day simple moving average of C$62.32 and a 200-day simple moving average of C$61.48. The firm has a market cap of C$136.63 billion, a PE ratio of 119.94 and a beta of 1.60.

Brookfield (TSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported C$0.92 EPS for the quarter. The firm had revenue of C$18.58 billion for the quarter. Brookfield had a net margin of 1.72% and a return on equity of 2.87%. On average, sell-side analysts predict that Brookfield Co. will post 6.4136752 EPS for the current fiscal year.

Insider Activity at Brookfield

In other Brookfield news, Director Janice Rose Fukakusa bought 16,250 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average price of C$61.91 per share, for a total transaction of C$1,006,037.50. Following the transaction, the director directly owned 54,107 shares in the company, valued at C$3,349,764.37. This trade represents a 42.92% increase in their ownership of the stock. Also, Director Jack Lynn Cockwell sold 152,600 shares of Brookfield stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of C$62.37, for a total transaction of C$9,517,662.00. Following the completion of the transaction, the director owned 55,714,551 shares in the company, valued at approximately C$3,474,916,545.87. The trade was a 0.27% decrease in their position. In the last 90 days, insiders have sold 296,600 shares of company stock valued at $18,432,796. Insiders own 19.11% of the company's stock.

Brookfield Company Profile

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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