Brookfield (TSE:BN) Stock Price Breaks Below 200 Day Moving Average – What’s Next?

Brookfield Co. (TSE:BN)’s share price 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.

Wall Street Analyst Weigh In

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

Brookfield Trading Down 0.1%

The stock has a market cap of C$130.53 billion, a PE ratio of 108.28 and a beta of 1.67. The company’s 50 day moving average is C$53.63 and its 200-day moving average is C$58.94.

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

Insider Activity at Brookfield

In related news, insider Brian William Kingston sold 675,000 shares of the stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of C$50.73, for a total value of C$34,242,750.00. Following the completion of the transaction, the insider owned 2,070,014 shares of the company’s stock, valued at approximately C$105,011,810.22. This 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.