Brookfield (TSE:BN) Stock Price Down 1.7% – Here’s What Happened

Shares of Brookfield Co. (TSE:BN) traded down 1.7% on Friday . The company traded as low as C$60.65 and last traded at C$61.17. 1,989,984 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 2,871,385 shares. The stock had previously closed at C$62.24.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada reduced their price objective 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 research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$58.50.

Brookfield Stock Performance

The stock has a 50 day simple moving average of C$62.32 and a two-hundred day simple moving average of C$61.48. The firm has a market cap of C$136.63 billion, a PE ratio of 119.94 and a beta of 1.60.

Brookfield (TSE:BN) last issued its quarterly earnings data on Thursday, May 14th. The company reported C$0.92 earnings per share (EPS) for the quarter. The business had revenue of C$18.58 billion during the quarter. Brookfield had a return on equity of 2.87% and a net margin of 1.72%. Equities research analysts forecast that Brookfield Co. will post 6.4136752 earnings per share for the current year.

Insider Buying and Selling at Brookfield

In other Brookfield news, Director Jack Lynn Cockwell sold 152,600 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of C$62.37, for a total value of C$9,517,662.00. Following the sale, the director owned 55,714,551 shares in the company, valued at approximately C$3,474,916,545.87. This represents a 0.27% decrease in their position. Also, Director Jeffrey Miles Blidner sold 6,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of C$63.71, for a total value of C$407,744.00. Following the completion of the sale, the director owned 1,258,759 shares in the company, valued at approximately C$80,195,535.89. This represents a 0.51% decrease in their position. Over the last ninety days, insiders sold 296,600 shares of company stock valued at $18,432,796. 19.11% of the stock is 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.