Brookfield (TSE:BN) Stock Price Down 0.7% - Here's What Happened

Key Points

• Brookfield shares fell 0.7% in mid-day trading to C$53.17, with trading volume slightly above its daily average.
• BMO Capital Markets upgraded Brookfield to “strong buy”; analysts maintain an overall “Buy” rating with an average price target of C$58.50.
• Insider Brian William Kingston sold 675,000 shares for approximately C$34.2 million, reducing his holdings by 24.59%; insiders still own 19.11% of the company.

Brookfield Co. (TSE:BN - Get Free Report)'s stock price dropped 0.7% during mid-day trading on Friday. The stock traded as low as C$52.35 and last traded at C$53.17. Approximately 3,028,283 shares were traded during trading, an increase of 2% from the average daily volume of 2,976,880 shares. The stock had previously closed at C$53.56.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$58.50.

Brookfield Trading Down 0.7%

The stock has a market capitalization of C$118.69 billion, a P/E ratio of 98.46 and a beta of 1.64. The company has a fifty day simple moving average of C$53.94 and a two-hundred day simple moving average of C$58.99.

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

Insider Activity at Brookfield

In other Brookfield news, insider Brian William Kingston sold 675,000 shares of the company's stock in a transaction 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 owned 2,070,014 shares in the company, valued at approximately C$105,011,810.22. The trade was a 24.59% decrease in their position. 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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