Brookfield (TSE:BN) Stock Breaks Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Brookfield Co. (TSE:BN) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$58.96 and traded as low as C$57.69. Brookfield shares last traded at C$58.50, with a volume of 5,292,093 shares.

Wall Street Analyst Weigh In

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

Brookfield Stock Performance

The firm’s 50-day simple moving average is C$53.61 and its 200 day simple moving average is C$58.96. The stock has a market capitalization of C$130.59 billion, a P/E ratio of 108.33 and a beta of 1.67.

Brookfield (TSE:BN) last announced 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 return on equity of 3.05% and a net margin of 1.80%. As a group, research analysts expect that Brookfield Co. will post 6.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Brookfield news, insider Brian William Kingston sold 675,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of C$50.73, for a total value of C$34,242,750.00. Following the completion of the transaction, the insider directly owned 2,070,014 shares in the company, valued at C$105,011,810.22. This trade represents a 24.59% decrease in their ownership of the stock. 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.