Brookfield (TSE:BN) Releases Earnings Results

Brookfield (TSE:BN) released its earnings results on Thursday. The company reported C$0.94 earnings per share (EPS) for the quarter, FiscalAI reports. Brookfield had a return on equity of 2.87% and a net margin of 1.72%.The business had revenue of C$27.57 billion for the quarter.

Brookfield Stock Down 0.6%

Shares of Brookfield stock traded down C$0.39 during trading on Thursday, reaching C$61.99. The company’s stock had a trading volume of 889,922 shares, compared to its average volume of 2,847,219. Brookfield has a 12-month low of C$52.04 and a 12-month high of C$68.44. The company has a market capitalization of C$138.46 billion, a P/E ratio of 121.55 and a beta of 1.60. The business has a 50 day moving average price of C$61.40 and a 200-day moving average price of C$60.86.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BN shares. Royal Bank Of Canada lowered their price objective on shares of Brookfield from C$63.00 to C$61.00 and set a “moderate buy” rating on the stock in a research report on Friday, May 15th. BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus price target of C$58.50.

Insiders Place Their Bets

In related news, Director Janice Rose Fukakusa acquired 16,250 shares of Brookfield stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average price of C$61.91 per share, for a total transaction of C$1,006,037.50. Following the completion of the purchase, the director directly owned 54,107 shares of the company’s stock, valued at approximately C$3,349,764.37. This trade represents a 42.92% increase in their ownership of the stock. Also, Director Jeffrey Miles Blidner sold 6,400 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of C$63.71, for a total transaction of C$407,744.00. Following the sale, the director directly owned 1,258,759 shares in the company, valued at approximately C$80,195,535.89. This represents a 0.51% decrease in their position. Over the last quarter, insiders sold 296,600 shares of company stock worth $18,432,796. 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.