Brookfield Asset Management Price Target Increased to $44.00 by Analysts at CIBC (BAM)
Equities researchers at CIBC upped their price objective on shares of Brookfield Asset Management (NYSE:BAM) from $42.00 to $44.00 in a research report issued on Friday, Analyst Ratings Network.com reports. CIBC’s target price would suggest a potential upside of 2.44% from the stock’s previous close.
Brookfield Asset Management (NYSE:BAM) opened at 42.95 on Friday. Brookfield Asset Management has a one year low of $33.59 and a one year high of $43.04. The stock has a 50-day moving average of $41.34 and a 200-day moving average of $39.52. The company has a market cap of $28.337 billion and a P/E ratio of 12.46.
Brookfield Asset Management (NYSE:BAM) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.64. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. Brookfield Asset Management’s revenue was down 11.7% compared to the same quarter last year. Analysts expect that Brookfield Asset Management will post $1.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Saturday, May 31st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Wednesday, May 28th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of Brookfield Asset Management to $45.80 in a research note on Friday. Three investment analysts have rated the stock with a hold rating, Brookfield Asset Management presently has a consensus rating of “Hold” and an average target price of $45.20.
Brookfield Asset Management Inc (NYSE:BAM) is a global asset management company focused on property, power and infrastructure assets.
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