Brookfield (TSE:BN) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Brookfield Co. (TSE:BN)’s share price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$58.82 and traded as low as C$58.02. Brookfield shares last traded at C$58.42, with a volume of 3,248,606 shares changing hands.

Analyst Ratings Changes

Separately, BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research report 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 stock. Based on data from MarketBeat, Brookfield has an average rating of “Strong Buy” and an average target price of C$61.00.

Brookfield Trading Down 1.5%

The firm has a market cap of C$130.41 billion, a price-to-earnings ratio of 108.19 and a beta of 1.67. The stock’s 50 day moving average is C$53.99 and its 200 day moving average is C$58.82.

Brookfield (TSE:BN) last released its quarterly earnings results on Thursday, November 12th. The company reported C$0.77 earnings per share for the quarter. The firm had revenue of C$29.46 billion for the quarter. Brookfield had a net margin of 1.80% and a return on equity of 3.05%. On average, equities research analysts predict that Brookfield Co. will post 6.41 EPS for the current year.

Insider Activity at Brookfield

In other news, insider Brian William Kingston sold 675,000 shares of the 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 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. 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.