Brookfield (TSE:BN) Stock Price Down 1.1% - Here's What Happened

Key Points

• Brookfield shares fell 1.1% to C$52.64 in mid-day trading, with volume about 14% below the average. The stock remains below its 50-day and 200-day moving averages of C$59.25 and C$59.90, respectively.
• Analysts maintain a generally positive outlook: Brookfield has a consensus “Buy” rating and a C$58.50 target price, while BMO recently upgraded the stock to “Strong Buy.”
• Brookfield reported quarterly earnings of C$0.94 per share on C$27.57 billion in revenue. Insiders have sold 296,600 shares worth approximately C$18.4 million over the past 90 days.

Brookfield Co. (TSE:BN - Get Free Report)'s stock price traded down 1.1% during mid-day trading on Thursday . The stock traded as low as C$52.34 and last traded at C$52.64. Approximately 2,469,534 shares were traded during trading, a decline of 14% from the average daily volume of 2,876,475 shares. The stock had previously closed at C$53.25.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BN. BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. Royal Bank Of Canada decreased their price target on Brookfield from C$63.00 to C$61.00 and set a "moderate buy" rating for the company in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$58.50.

Brookfield Trading Down 1.1%

The stock's 50-day moving average price is C$59.25 and its 200-day moving average price is C$59.90. The stock has a market cap of C$117.51 billion, a price-to-earnings ratio of 97.48 and a beta of 1.58.

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. 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 during the quarter. As a group, analysts predict that Brookfield Co. will post 6.4136752 earnings per share for the current year.

Insiders Place Their Bets

In other Brookfield news, Director Jeffrey Miles Blidner sold 1,500 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of C$63.79, for a total transaction of C$95,685.00. Following the completion of the sale, 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 position. Also, Director Jack Lynn Cockwell sold 116,700 shares of Brookfield stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$61.52, for a total value of C$7,179,384.00. Following the completion of the transaction, the director directly owned 55,597,851 shares of the company's stock, valued at approximately C$3,420,379,793.52. This trade represents a 0.21% decrease in their ownership of the stock. Insiders have sold 296,600 shares of company stock worth $18,432,796 in the last ninety days. 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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