Brookfield Asset Management Inc. (NYSE:BAM) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Brookfield Asset Management Inc. (NYSE:BAM) have earned a consensus rating of “Buy” from the twelve ratings firms that are covering the firm. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $40.18.
Several equities research analysts have recently weighed in on BAM shares. RBC Capital Markets raised shares of Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 target price on the stock in a report on Wednesday, September 21st. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 target price on shares of Brookfield Asset Management in a report on Friday, August 12th. Credit Suisse Group AG set a $36.00 target price on shares of Brookfield Asset Management and gave the stock a “hold” rating in a report on Monday, August 22nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $42.00 target price (up previously from $40.00) on shares of Brookfield Asset Management in a report on Monday, September 26th. Finally, Vetr raised shares of Brookfield Asset Management from a “buy” rating to a “strong-buy” rating and set a $38.94 target price on the stock in a report on Monday, June 13th.
Brookfield Asset Management (NYSE:BAM) traded down 0.5015% during mid-day trading on Friday, hitting $35.5508. 394,221 shares of the company were exchanged. The stock has a market cap of $34.09 billion, a P/E ratio of 27.4948 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. The company has a 50 day moving average of $34.20 and a 200 day moving average of $33.96.
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Brookfield Asset Management (NYSE:BAM) last posted its 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. Brookfield Asset Management had a net margin of 6.47% and a return on equity of 2.54%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts expect that Brookfield Asset Management will post $0.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Monday, August 29th. Brookfield Asset Management’s payout ratio is 39.39%.
Institutional investors have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in Brookfield Asset Management during the second quarter worth approximately $1,134,262,000. Mackenzie Financial Corp raised its stake in Brookfield Asset Management by 85,158.3% in the second quarter. Mackenzie Financial Corp now owns 11,759,684 shares of the company’s stock worth $388,893,000 after buying an additional 11,745,891 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in Brookfield Asset Management by 17,173.8% in the first quarter. Burgundy Asset Management Ltd. now owns 5,052,587 shares of the company’s stock worth $175,950,000 after buying an additional 5,023,337 shares during the last quarter. CIBC World Markets Inc. raised its stake in Brookfield Asset Management by 25.7% in the second quarter. CIBC World Markets Inc. now owns 14,974,038 shares of the company’s stock worth $495,191,000 after buying an additional 3,065,448 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Brookfield Asset Management by 12.1% in the second quarter. Vanguard Group Inc. now owns 16,644,423 shares of the company’s stock worth $550,431,000 after buying an additional 1,800,655 shares during the last quarter. 53.31% of the stock is currently owned by institutional investors.
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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