Brookfield Asset Management Reaches New 12-Month High at $48.16 (BAM)
Brookfield Asset Management (NYSE:BAM)’s share price reached a new 52-week high during mid-day trading on Thursday , American Banking and Market News reports. The company traded as high as $48.16 and last traded at $48.12, with a volume of 127,947 shares traded. The stock had previously closed at $47.94.
Several analysts have recently commented on the stock. Analysts at CIBC raised their price target on shares of Brookfield Asset Management from $44.00 to $47.50 in a research note on Thursday, August 14th. They now have a “sector perform” rating on the stock. Separately, 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, August 11th. They now have a “buy” rating on the stock. Finally, 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, August 11th. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.00.
The stock has a 50-day moving average of $45.04 and a 200-day moving average of $42.40. The company has a market cap of $29.663 billion and a P/E ratio of 11.21.
Brookfield Asset Management (NYSE:BAM) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.84 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.31 earnings per share. Brookfield Asset Management’s revenue was down 6.4% compared to the same quarter last year. On average, analysts predict that Brookfield Asset Management will post $1.74 earnings per share 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 1.33%. The ex-dividend date is Wednesday, August 27th.
Brookfield Asset Management Inc (NYSE:BAM) is a global alternative asset manager.
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