Brookfield Asset Management Inc (BAM) Receives Consensus Recommendation of “Buy” from Analysts
Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) has been assigned a consensus rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $46.50.
BAM has been the topic of a number of research reports. Royal Bank Of Canada restated a “buy” rating and issued a $42.00 target price on shares of Brookfield Asset Management in a report on Thursday, July 27th. Citigroup Inc. boosted their target price on shares of Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. BidaskClub downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $42.00 price target on shares of Brookfield Asset Management in a report on Friday, August 11th.
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Brookfield Asset Management (NYSE:BAM) traded up 0.71% during mid-day trading on Wednesday, reaching $42.58. 114,380 shares of the company’s stock traded hands. Brookfield Asset Management has a one year low of $32.04 and a one year high of $42.61. The firm’s 50-day moving average price is $40.18 and its 200 day moving average price is $38.62. The firm has a market cap of $39.58 billion, a price-to-earnings ratio of 33.53 and a beta of 1.04.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.28). Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $5.27 billion. During the same quarter last year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 58.1% on a year-over-year basis. On average, equities analysts forecast that Brookfield Asset Management will post $0.84 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 31st were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.56 annualized dividend and a yield of 1.32%. Brookfield Asset Management’s payout ratio is 43.75%.
Large investors have recently modified their holdings of the stock. QS Investors LLC grew its holdings in Brookfield Asset Management by 69.8% during the 2nd quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 1,150 shares during the last quarter. Atlantic Trust LLC bought a new position in Brookfield Asset Management during the 2nd quarter valued at about $191,000. Visionary Asset Management Inc. bought a new position in Brookfield Asset Management during the 2nd quarter valued at about $201,000. HM Payson & Co. bought a new position in Brookfield Asset Management during the 2nd quarter valued at about $203,000. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in Brookfield Asset Management by 112.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 2,738 shares during the last quarter. Institutional investors own 53.73% of the company’s stock.
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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