Credit Suisse Group AG Reiterates $36.00 Price Target for Brookfield Asset Management Inc. (BAM)
Brookfield Asset Management Inc. (NYSE:BAM) received a $36.00 price target from research analysts at Credit Suisse Group AG in a research report issued on Thursday. The brokerage presently has a a “hold” rating on the stock. Credit Suisse Group AG’s target price would suggest a potential upside of 0.76% from the stock’s current price.
BAM has been the subject of several other research reports. TheStreet downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Monday, September 19th. Royal Bank Of Canada upgraded Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 price objective for the company in a research report on Thursday, September 22nd. TD Securities reiterated a “buy” rating and issued a $46.00 price objective on shares of Brookfield Asset Management in a research report on Sunday, October 2nd. Zacks Investment Research downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Vetr upgraded Brookfield Asset Management from a “buy” rating to a “strong-buy” rating and set a $38.94 target price for the company in a report on Monday, June 13th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $40.07.
Brookfield Asset Management (NYSE:BAM) traded down 0.31% on Thursday, reaching $35.62. 513,238 shares of the company’s stock traded hands. The firm’s 50-day moving average is $34.20 and its 200 day moving average is $33.96. The firm has a market cap of $34.16 billion, a PE ratio of 27.55 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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/credit-suisse-group-ag-reiterates-36-00-price-target-for-brookfield-asset-management-inc-bam.html
Brookfield Asset Management (NYSE:BAM) last announced its quarterly earnings data on Friday, August 12th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.39. Brookfield Asset Management had a return on equity of 2.54% and a net margin of 6.47%. The firm earned $5.97 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. Equities analysts predict that Brookfield Asset Management will post $0.93 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.46%. Brookfield Asset Management’s dividend payout ratio is currently 39.39%.
Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in Brookfield Asset Management by 0.5% in the second quarter. Rhumbline Advisers now owns 9,140 shares of the company’s stock worth $302,000 after buying an additional 47 shares in the last quarter. Brown Advisory Securities LLC boosted its stake in Brookfield Asset Management by 0.6% in the second quarter. Brown Advisory Securities LLC now owns 26,394 shares of the company’s stock worth $871,000 after buying an additional 150 shares in the last quarter. Cidel Asset Management Inc. boosted its stake in Brookfield Asset Management by 2.2% in the second quarter. Cidel Asset Management Inc. now owns 11,660 shares of the company’s stock worth $383,000 after buying an additional 256 shares in the last quarter. Heritage Wealth Advisors boosted its stake in Brookfield Asset Management by 6.8% in the second quarter. Heritage Wealth Advisors now owns 8,199 shares of the company’s stock worth $271,000 after buying an additional 520 shares in the last quarter. Finally, Steinberg Global Asset Management boosted its stake in Brookfield Asset Management by 2.1% in the first quarter. Steinberg Global Asset Management now owns 33,700 shares of the company’s stock worth $1,172,000 after buying an additional 700 shares in the last quarter. 53.31% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Asset Management Company Profile
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.
Receive News & Ratings for Brookfield Asset Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management Inc. and related companies with MarketBeat.com's FREE daily email newsletter.