Brookfield (TSE:BN) Trading 1.3% Higher – Here’s What Happened

Brookfield Co. (TSE:BN) shot up 1.3% during trading on Monday . The company traded as high as C$64.97 and last traded at C$63.99. 1,456,112 shares were traded 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 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 investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$58.50.

Brookfield Price Performance

The firm has a market cap of C$142.93 billion, a price-to-earnings ratio of 125.47 and a beta of 1.61. The firm’s fifty day moving average is C$62.07 and its 200-day moving average is C$61.83.

Brookfield (TSE:BN) last issued its quarterly earnings results on Thursday, May 14th. The company reported C$0.92 earnings per share for the quarter. Brookfield had a return on equity of 2.87% and a net margin of 1.76%.The firm had revenue of C$18.58 billion during the quarter. As a group, equities research analysts anticipate that Brookfield Co. will post 6.4136752 EPS for the current year.

Insider Buying and Selling at Brookfield

In related news, Director Janice Rose Fukakusa purchased 16,250 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average cost of C$61.91 per share, with a total value of C$1,006,037.50. Following the transaction, the director owned 54,107 shares of the company’s stock, valued at C$3,349,764.37. This represents a 42.92% increase in their position. 19.11% of the stock is owned by corporate 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.