Scotiabank Has Lowered Expectations for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price dropped by investment analysts at Scotiabank from $64.00 to $56.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price target would indicate a potential upside of 28.50% from the company’s current price.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada set a $74.00 price target on Brookfield Asset Management and gave the company an “outperform” rating in a report on Monday, December 15th. The Goldman Sachs Group dropped their price objective on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. UBS Group set a $52.00 target price on shares of Brookfield Asset Management in a research note on Friday, February 20th. Finally, Morgan Stanley set a $63.00 price target on shares of Brookfield Asset Management in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Brookfield Asset Management has an average rating of “Hold” and an average target price of $63.18.

Brookfield Asset Management Price Performance

Shares of BAM opened at $43.58 on Wednesday. The business’s 50-day moving average is $48.38 and its two-hundred day moving average is $52.38. The company has a market capitalization of $71.38 billion, a P/E ratio of 28.67, a P/E/G ratio of 1.55 and a beta of 1.42. Brookfield Asset Management has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. Research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zions Bancorporation National Association UT increased its holdings in Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 345 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 442 shares in the last quarter. LOM Asset Management Ltd acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $31,000. Sagard Holdings Management Inc. acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at about $39,000. Finally, eCIO Inc. purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.