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

Brookfield Co. (TSE:BN) shares were down 1.7% during mid-day trading on Friday . The stock traded as low as C$60.65 and last traded at C$61.17. 1,989,984 shares traded hands during 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 Analysts Forecast Growth

Separately, Royal Bank Of Canada lowered 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 report 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$58.50.

Brookfield Stock Down 1.7%

The business has a fifty day moving average of C$62.32 and a 200 day moving average of C$61.48. The company has a market cap of C$136.63 billion, a P/E ratio of 119.94 and a beta of 1.60.

Brookfield (TSE:BN) last released its quarterly earnings results on Thursday, May 14th. The company reported C$0.92 earnings per share for the quarter. The business had revenue of C$18.58 billion for the quarter. Brookfield had a net margin of 1.72% and a return on equity of 2.87%. On average, sell-side analysts anticipate that Brookfield Co. will post 6.4136752 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey Miles Blidner sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of C$63.79, for a total transaction of C$95,685.00. Following the transaction, the director owned 1,242,259 shares in the company, valued at C$79,243,701.61. The trade was a 0.12% decrease in their ownership of the stock. Also, Director Jack Lynn Cockwell sold 116,700 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$61.52, for a total transaction of C$7,179,384.00. Following the transaction, the director owned 55,597,851 shares in the company, valued at C$3,420,379,793.52. This represents a 0.21% decrease in their position. Over the last ninety days, insiders sold 296,600 shares of company stock valued at $18,432,796. Corporate 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.