Brookfield Asset Management Inc (BAM) Upgraded to “Buy” by BidaskClub
Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
A number of other equities research analysts have also recently commented on the stock. Royal Bank Of Canada raised their target price on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 12th. Keefe, Bruyette & Woods restated a “buy” rating and set a $45.00 target price on shares of Brookfield Asset Management in a research note on Friday, May 12th. TD Securities restated a “buy” rating on shares of Brookfield Asset Management in a research note on Saturday, May 13th. Finally, ValuEngine cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $41.57.
Brookfield Asset Management (NYSE:BAM) traded down 1.22% during mid-day trading on Thursday, hitting $39.60. 1,225,972 shares of the stock traded hands. The stock has a market cap of $37.96 billion, a price-to-earnings ratio of 31.76 and a beta of 1.04. Brookfield Asset Management has a 1-year low of $32.04 and a 1-year high of $40.09. The company’s 50 day moving average price is $38.25 and its 200-day moving average price is $36.26.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, May 11th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.26. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Brookfield Asset Management had a return on equity of 2.12% and a net margin of 5.39%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. Analysts predict that Brookfield Asset Management will post $1.31 earnings per share for the current year.
The business also recently announced 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. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, May 26th. Brookfield Asset Management’s dividend payout ratio is currently 44.80%.
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Several hedge funds have recently modified their holdings of BAM. Group One Trading L.P. bought a new stake in shares of Brookfield Asset Management during the first quarter worth about $186,000. Gould Asset Management LLC CA bought a new stake in shares of Brookfield Asset Management during the first quarter worth about $213,000. Fisher Asset Management LLC bought a new stake in shares of Brookfield Asset Management during the first quarter worth about $215,000. Kings Point Capital Management raised its stake in shares of Brookfield Asset Management by 82.7% in the first quarter. Kings Point Capital Management now owns 6,275 shares of the financial services provider’s stock worth $229,000 after buying an additional 2,840 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. bought a new stake in shares of Brookfield Asset Management during the first quarter worth about $237,000. 53.52% of the stock is 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.
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