Brookfield Asset Management Inc. (BAM) Given a $36.00 Price Target at Credit Suisse Group AG
Credit Suisse Group AG set a $36.00 target price on Brookfield Asset Management Inc. (NYSE:BAM) in a research report report published on Thursday morning. The firm currently has a a hold rating on the stock.
A number of other equities research analysts have also weighed in on the stock. TD Securities reiterated a buy rating and set a $46.00 price objective on shares of Brookfield Asset Management in a report on Sunday, October 2nd. BMO Capital Markets reiterated an outperform rating and set a $42.00 price objective (up previously from $40.00) on shares of Brookfield Asset Management in a report on Monday, September 26th. Royal Bank Of Canada raised shares of Brookfield Asset Management from an outperform rating to a top pick rating and set a $41.00 target price on the stock in a research report on Thursday, September 22nd. RBC Capital Markets raised shares of Brookfield Asset Management from an outperform rating to a top pick rating and set a $41.00 target price on the stock in a research report on Wednesday, September 21st. They noted that the move was a valuation call. Finally, TheStreet downgraded shares of Brookfield Asset Management from a buy rating to a hold rating in a research report on Monday, September 19th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $40.07.
Shares of Brookfield Asset Management (NYSE:BAM) traded down 0.294% on Thursday, hitting $35.625. 521,116 shares of the stock traded hands. The stock has a market cap of $34.16 billion, a P/E ratio of 27.552 and a beta of 0.96. The stock’s 50 day moving average price is $34.20 and its 200 day moving average price is $33.96. Brookfield Asset Management has a 52-week low of $25.72 and a 52-week high of $35.98.
Brookfield Asset Management (NYSE:BAM) last announced its quarterly earnings data on Friday, August 12th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.39. Brookfield Asset Management had a net margin of 6.47% and a return on equity of 2.54%. The company earned $5.97 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts expect that Brookfield Asset Management will post $0.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, August 31st were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Monday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 39.39%.
Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in Brookfield Asset Management by 4,241.7% in the first quarter. Acadian Asset Management LLC now owns 9,986 shares of the company’s stock worth $347,000 after buying an additional 9,756 shares during the period. Virginia Retirement System acquired a new stake in shares of Brookfield Asset Management during the first quarter valued at about $321,000. BlackRock Inc. boosted its stake in shares of Brookfield Asset Management by 98.1% in the first quarter. BlackRock Inc. now owns 33,250 shares of the company’s stock valued at $1,157,000 after buying an additional 16,466 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of Brookfield Asset Management by 94.4% in the first quarter. BlackRock Group LTD now owns 913,610 shares of the company’s stock valued at $31,784,000 after buying an additional 443,533 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Brookfield Asset Management during the first quarter valued at about $478,000. Institutional investors own 53.31% 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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