Brookfield Asset Management’s (BAM) “Buy” Rating Reaffirmed at Royal Bank Of Canada
Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank Of Canada in a note issued to investors on Tuesday. They presently have a $42.00 price objective on the financial services provider’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 8.81% from the company’s current price.
Several other research firms have also commented on BAM. TD Securities restated a “buy” rating on shares of Brookfield Asset Management in a report on Saturday, May 13th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $45.00 price target on shares of Brookfield Asset Management in a report on Friday, May 12th. Finally, ValuEngine lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Brookfield Asset Management currently has an average rating of “Buy” and an average price target of $41.57.
Brookfield Asset Management (BAM) opened at 38.60 on Tuesday. The stock has a market capitalization of $37.00 billion, a P/E ratio of 30.95 and a beta of 1.04. The firm’s 50-day moving average is $37.90 and its 200-day moving average is $35.96. Brookfield Asset Management has a 52 week low of $31.80 and a 52 week high of $38.99.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, May 11th. The financial services provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.26. Brookfield Asset Management had a net margin of 5.39% and a return on equity of 2.12%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities research analysts predict that Brookfield Asset Management will post $1.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, May 26th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.45%. Brookfield Asset Management’s dividend payout ratio is currently 44.80%.
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Several hedge funds have recently bought and sold shares of the stock. Gerstein Fisher purchased a new stake in Brookfield Asset Management during the third quarter worth about $1,910,000. Nexus Investment Management raised its stake in shares of Brookfield Asset Management by 14.5% in the fourth quarter. Nexus Investment Management now owns 29,875 shares of the financial services provider’s stock worth $942,000 after buying an additional 3,775 shares during the period. Assetmark bought a new stake in shares of Brookfield Asset Management during the third quarter worth about $0. LGT Capital Partners raised its stake in shares of Brookfield Asset Management by 224.9% in the fourth quarter. LGT Capital Partners now owns 433,410 shares of the financial services provider’s stock worth $13,627,000 after buying an additional 300,000 shares during the period. Finally, Creative Planning raised its stake in shares of Brookfield Asset Management by 4.4% in the fourth quarter. Creative Planning now owns 8,225 shares of the financial services provider’s stock worth $259,000 after buying an additional 347 shares during the period. Institutional investors own 53.52% 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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