Brookfield (TSE:BN) Stock Breaks Below Two Hundred Day Moving Average – Here’s What Happened

Brookfield Co. (TSE:BN) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$58.96 and traded as low as C$57.69. Brookfield shares last traded at C$58.50, with a volume of 5,292,093 shares traded.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Strong Buy” and an average price target of C$61.00.

Brookfield Stock Performance

The firm has a market cap of C$130.59 billion, a P/E ratio of 108.33 and a beta of 1.67. The firm’s fifty day moving average is C$53.61 and its 200 day moving average is C$58.96.

Brookfield (TSE:BN) last released its quarterly earnings results on Thursday, August 13th. The company reported C$0.94 earnings per share for the quarter. The firm had revenue of C$27.57 billion for the quarter. Brookfield had a net margin of 1.80% and a return on equity of 3.05%. As a group, equities research analysts forecast that Brookfield Co. will post 6.41 EPS for the current year.

Insider Activity

In other news, insider Brian William Kingston sold 675,000 shares of the business’s 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 transaction of C$34,242,750.00. Following the completion of the sale, the insider owned 2,070,014 shares in the company, valued at C$105,011,810.22. The trade was a 24.59% decrease in their ownership of the stock. 19.11% of the stock is currently 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.