Brookfield Asset Management Inc (BAM) Price Target Raised to $48.00
Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its price objective upped by analysts at Citigroup Inc. from $45.00 to $48.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup Inc.’s target price would suggest a potential upside of 23.58% from the company’s previous close.
A number of other equities research analysts have also recently commented on BAM. Royal Bank Of Canada lifted their target price on 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 reiterated 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 reiterated a “buy” rating on shares of Brookfield Asset Management in a research note on Saturday, May 13th. ValuEngine cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $43.56.
Brookfield Asset Management (NYSE BAM) traded down 0.10% during trading on Tuesday, hitting $38.80. 173,887 shares of the company’s stock traded hands. The company has a market cap of $43.65 billion, a PE ratio of 36.30 and a beta of 1.03. Brookfield Asset Management has a 52-week low of $32.04 and a 52-week high of $40.09. The company’s 50 day moving average price is $39.06 and its 200 day moving average price is $37.48.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.28. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $5.27 billion. Brookfield Asset Management had a return on equity of 2.14% and a net margin of 4.87%. The company’s revenue for the quarter was up 58.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Analysts expect that Brookfield Asset Management will post $0.99 earnings per share for the current year.
Brookfield Asset Management declared that its board has authorized a share buyback plan on Friday, May 19th that authorizes the company to buyback 82,960,000 shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. QS Investors LLC raised its position in Brookfield Asset Management by 69.8% in the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,150 shares during the last quarter. Group One Trading L.P. bought a new position in Brookfield Asset Management during the first quarter worth $186,000. Visionary Asset Management Inc. bought a new position in Brookfield Asset Management during the second quarter worth $201,000. HM Payson & Co. bought a new position in Brookfield Asset Management during the second quarter worth $203,000. Finally, Bronfman E.L. Rothschild L.P. raised its position in Brookfield Asset Management by 112.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock worth $203,000 after buying an additional 2,738 shares during the last quarter. 53.96% of the stock is owned by institutional investors and hedge funds.
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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