Brookfield (TSE:BN) Share Price Breaks Above 50-Day Moving Average - Time to Sell?

Key Points

• Brookfield shares rose above their 50-day moving average, reaching C$54.16 before last trading at C$53.81, up 0.7%. However, the 200-day moving average is higher at C$59.22.
• Analyst sentiment is strongly positive: BMO Capital Markets upgraded the stock to “strong buy,” while the consensus rating is “Strong Buy” with a C$61.00 target price.
• Insider Brian William Kingston sold 675,000 shares for approximately C$34.2 million, reducing his ownership by 24.59%; corporate insiders collectively own 19.11% of the company.

Brookfield Co. (TSE:BN - Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$53.68 and traded as high as C$54.16. Brookfield shares last traded at C$53.81, with a volume of 2,992,863 shares changing hands.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Strong Buy" and a consensus target price of C$61.00.

Brookfield Stock Up 0.7%

The stock has a market capitalization of C$120.12 billion, a P/E ratio of 99.65 and a beta of 1.64. The firm's 50-day simple moving average is C$53.68 and its 200 day simple moving average is C$59.22.

Brookfield (TSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported C$0.94 earnings per share for the quarter. The company had revenue of C$27.57 billion during the quarter. Brookfield had a net margin of 1.80% and a return on equity of 3.05%. As a group, equities analysts anticipate that Brookfield Co. will post 6.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Brian William Kingston sold 675,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of C$50.73, for a total transaction of C$34,242,750.00. Following the completion of the sale, the insider directly owned 2,070,014 shares in the company, valued at approximately C$105,011,810.22. This trade represents a 24.59% decrease in their ownership of the stock. 19.11% of the stock is currently owned by corporate insiders.

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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