Brookfield (TSE:BN) Releases Quarterly Earnings Results

Brookfield (TSE:BN) posted 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 firm had revenue of C$27.57 billion for the quarter.

Brookfield Price Performance

Shares of TSE BN opened at C$60.86 on Friday. The company has a market cap of C$135.94 billion, a price-to-earnings ratio of 112.70 and a beta of 1.60. The stock’s 50-day moving average is C$61.38 and its two-hundred day moving average is C$60.84. Brookfield has a 1-year low of C$52.04 and a 1-year high of C$68.44.

Insider Activity

In related news, Director Jeffrey Miles Blidner sold 6,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were 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 ownership of the stock. Also, Director Janice Rose Fukakusa bought 16,250 shares of Brookfield stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of C$61.91 per share, for a total transaction of C$1,006,037.50. Following the acquisition, the director owned 54,107 shares of the company’s stock, valued at C$3,349,764.37. This represents a 42.92% increase in their ownership of the stock. In the last quarter, insiders sold 296,600 shares of company stock worth $18,432,796. 19.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BN shares. Royal Bank Of Canada cut their price target on shares of Brookfield from C$63.00 to C$61.00 and set a “moderate buy” rating on the stock in a research note on Friday, May 15th. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Strong Buy” and a consensus target price of C$58.50.

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.