Brookfield (TSE:BN) Share Price Breaks Above 50-Day Moving Average – What’s Next?

Brookfield Co. (TSE:BN)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$53.68 and traded as high as C$54.16. Brookfield shares last traded at C$53.81, with a volume of 2,992,863 shares changing hands.

Wall Street Analysts Forecast Growth

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

Brookfield Price Performance

The stock has a 50-day simple moving average of C$53.57 and a 200-day simple moving average of C$59.11. The stock has a market cap of C$122.49 billion, a PE ratio of 101.61 and a beta of 1.64.

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

Insider Transactions at Brookfield

In related news, insider Brian William Kingston sold 675,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of C$50.73, for a total value of C$34,242,750.00. Following the transaction, the insider owned 2,070,014 shares in the company, valued at approximately C$105,011,810.22. This trade represents a 24.59% decrease in their ownership of the stock. Company insiders own 19.11% of the company’s stock.

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.