Brookfield Asset Management Inc (BAM) PT Raised to $56.00 at Scotiabank
Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its price target raised by stock analysts at Scotiabank from $42.75 to $56.00 in a research report issued on Wednesday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price target indicates a potential upside of 31.61% from the stock’s previous close.
Several other research analysts have also issued reports on the stock. BidaskClub lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Brookfield Asset Management in a research report on Thursday, September 28th. Canaccord Genuity reiterated a “buy” rating and issued a $47.00 target price on shares of Brookfield Asset Management in a research report on Monday, October 2nd. ValuEngine lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Finally, Citigroup Inc. upped their target price on shares of Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Brookfield Asset Management has a consensus rating of “Buy” and an average target price of $48.17.
Shares of Brookfield Asset Management (NYSE:BAM) traded up 0.64% during midday trading on Wednesday, hitting $42.55. The company’s stock had a trading volume of 634,102 shares. The firm has a market cap of $40.79 billion, a P/E ratio of 33.01 and a beta of 1.04. The stock’s 50 day moving average is $40.18 and its 200-day moving average is $38.62. Brookfield Asset Management has a 52-week low of $32.04 and a 52-week high of $42.62.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.28). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.10%. The firm’s revenue for the quarter was up 58.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 earnings per share. Equities analysts predict that Brookfield Asset Management will post $0.86 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in BAM. QS Investors LLC grew 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 acquiring an additional 1,150 shares in the last quarter. Atlantic Trust LLC purchased a new position in Brookfield Asset Management in the second quarter worth $191,000. Visionary Asset Management Inc. purchased a new position in Brookfield Asset Management in the second quarter worth $201,000. HM Payson & Co. purchased a new position in Brookfield Asset Management in the second quarter worth $203,000. Finally, Bronfman E.L. Rothschild L.P. grew 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 acquiring an additional 2,738 shares in the last quarter. Institutional investors own 53.73% 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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