Brookfield (TSE:BN) Stock Falls 0.7% – Here’s What Happened

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

Analysts Set New Price Targets

Separately, BMO Capital Markets raised Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$58.50.

Brookfield Price Performance

The stock’s fifty day moving average price is C$53.94 and its 200-day moving average price is C$58.99. The firm has a market cap of C$118.69 billion, a PE ratio of 98.46 and a beta of 1.64.

Brookfield (TSE:BN) last announced its quarterly earnings results on Thursday, August 13th. The company reported C$0.94 earnings per share (EPS) for the quarter. The business 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%. On average, sell-side analysts anticipate that Brookfield Co. will post 6.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brian William Kingston sold 675,000 shares of the 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 sale, the insider directly owned 2,070,014 shares of the company’s stock, valued at approximately C$105,011,810.22. This represents a 24.59% decrease in their ownership of the stock. 19.11% of the stock is currently owned by company 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.