Brookfield (TSE:BN) Shares Up 1.3% – Here’s Why

Brookfield Co. (TSE:BN) shares shot up 1.3% during trading on Monday . The stock traded as high as C$64.97 and last traded at C$63.99. 1,456,112 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 2,896,988 shares. The stock had previously closed at C$63.20.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada cut their price objective on Brookfield from C$63.00 to C$61.00 and set a “moderate buy” rating for the company in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$58.50.

Brookfield Price Performance

The business has a 50-day simple moving average of C$62.34 and a 200 day simple moving average of C$61.80. The firm has a market cap of C$141.21 billion, a PE ratio of 123.96 and a beta of 1.61.

Brookfield (TSE:BN) last issued its quarterly earnings results on Thursday, May 14th. The company reported C$0.92 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 1.76%. On average, equities analysts forecast that Brookfield Co. will post 6.4136752 earnings per share for the current fiscal year.

Insider Buying and Selling at Brookfield

In other Brookfield news, Director Janice Rose Fukakusa acquired 16,250 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was purchased at an average price of C$61.91 per share, with a total value of C$1,006,037.50. Following the completion of the purchase, the director directly owned 54,107 shares in the company, valued at approximately C$3,349,764.37. The trade was a 42.92% increase in their position. 19.11% of the stock is currently owned by company insiders.

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.