Brookfield Asset Management Inc. (BAM) Given a $36.00 Price Target at Credit Suisse Group AG
Brookfield Asset Management Inc. (NYSE:BAM) has been given a $36.00 price objective by Credit Suisse Group AG in a report released on Thursday. The firm presently has a a “hold” rating on the stock. Credit Suisse Group AG’s target price would suggest a potential upside of 1.15% from the company’s previous close.
Several other research analysts have also recently weighed in on BAM. Zacks Investment Research cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Vetr upgraded shares of Brookfield Asset Management from a “buy” rating to a “strong-buy” rating and set a $38.94 price target on the stock in a research note on Monday, June 13th. BMO Capital Markets reiterated an “outperform” rating and set a $42.00 price target (up previously from $40.00) on shares of Brookfield Asset Management in a research note on Monday, September 26th. Royal Bank Of Canada upgraded shares of Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 price target on the stock in a research note on Thursday, September 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $38.00 price target on shares of Brookfield Asset Management in a research note on Friday, August 12th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.07.
Brookfield Asset Management (NYSE:BAM) traded down 0.39% on Thursday, reaching $35.59. The company had a trading volume of 636,952 shares. The stock’s 50 day moving average price is $34.20 and its 200-day moving average price is $33.96. The stock has a market capitalization of $34.13 billion, a PE ratio of 27.53 and a beta of 0.96. Brookfield Asset Management has a 12-month low of $25.72 and a 12-month high of $35.98.
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Brookfield Asset Management (NYSE:BAM) last issued its quarterly earnings results on Friday, August 12th. The company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.39. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Brookfield Asset Management had a net margin of 6.47% and a return on equity of 2.54%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 EPS. Equities analysts expect that Brookfield Asset Management will post $0.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, August 29th. Brookfield Asset Management’s payout ratio is currently 39.39%.
A number of hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in Brookfield Asset Management by 4,241.7% in the first quarter. Acadian Asset Management LLC now owns 9,986 shares of the company’s stock worth $347,000 after buying an additional 9,756 shares during the period. Virginia Retirement System acquired a new stake in Brookfield Asset Management during the first quarter worth $321,000. BlackRock Inc. increased its stake in Brookfield Asset Management by 98.1% in the first quarter. BlackRock Inc. now owns 33,250 shares of the company’s stock worth $1,157,000 after buying an additional 16,466 shares during the period. BlackRock Group LTD increased its stake in Brookfield Asset Management by 94.4% in the first quarter. BlackRock Group LTD now owns 913,610 shares of the company’s stock worth $31,784,000 after buying an additional 443,533 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Brookfield Asset Management during the first quarter worth $478,000. Institutional investors and hedge funds own 53.31% of the company’s stock.
About Brookfield Asset Management
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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