CIBC Reiterates “Sector Perform” Rating for Brookfield Asset Management (BAM)
Brookfield Asset Management (NYSE:BAM)‘s stock had its “sector perform” rating reiterated by stock analysts at CIBC in a report issued on Thursday. They currently have a $47.50 target price on the stock, up from their previous target price of $44.00. CIBC’s target price indicates a potential upside of 0.64% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at TD Securities raised their price target on shares of Brookfield Asset Management from C$48.00 to C$50.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Brookfield Asset Management from $47.00 to $49.00 in a research note on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Brookfield Asset Management from $45.80 to $48.50 in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Brookfield Asset Management currently has an average rating of “Buy” and a consensus target price of $49.00.
Shares of Brookfield Asset Management (NYSE:BAM) traded up 0.64% on Thursday, hitting $47.50. The stock had a trading volume of 51,492 shares. Brookfield Asset Management has a 1-year low of $33.67 and a 1-year high of $47.35. The stock’s 50-day moving average is $44.47 and its 200-day moving average is $42.03. The company has a market cap of $30.816 billion and a price-to-earnings ratio of 10.60.
Brookfield Asset Management (NYSE:BAM) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.53. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Analysts expect that Brookfield Asset Management will post $1.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Sunday, August 31st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Wednesday, August 27th.
Brookfield Asset Management Inc (NYSE:BAM) is a global alternative asset manager.
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