Brookfield Asset Management Inc. (BAM) PT Lowered to $40.00 at RBC Capital Markets
Brookfield Asset Management Inc. (NYSE:BAM) had its target price lowered by equities researchers at RBC Capital Markets from $41.00 to $40.00 in a research note issued on Monday. The brokerage currently has a “top pick” rating on the stock. RBC Capital Markets’ target price indicates a potential upside of 22.40% from the stock’s previous close.
A number of other brokerages also recently issued reports on BAM. Canaccord Genuity restated a “buy” rating and set a $38.00 price objective on shares of Brookfield Asset Management in a research report on Friday, August 12th. Credit Suisse Group AG set a $36.00 price target on Brookfield Asset Management and gave the stock a “hold” rating in a report on Thursday, October 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $42.00 price target (up from $40.00) on shares of Brookfield Asset Management in a report on Monday, September 26th. TD Securities reiterated a “buy” rating and issued a $46.00 price target (up from $44.00) on shares of Brookfield Asset Management in a report on Tuesday, August 16th. Finally, Royal Bank Of Canada upgraded Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 price target on the stock in a report on Thursday, September 22nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $39.94.
Shares of Brookfield Asset Management (NYSE:BAM) opened at 32.68 on Monday. Brookfield Asset Management has a 12 month low of $25.72 and a 12 month high of $36.25. The company has a market capitalization of $31.34 billion, a price-to-earnings ratio of 25.27 and a beta of 1.05. The stock has a 50 day moving average price of $35.19 and a 200-day moving average price of $34.31.
Brookfield Asset Management (NYSE:BAM) last issued its quarterly earnings data on Friday, November 11th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.65. Brookfield Asset Management had a return on equity of 3.76% and a net margin of 9.37%. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. Analysts expect that Brookfield Asset Management will post $0.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 31st. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, November 28th. This represents a $0.52 annualized dividend and a yield of 1.59%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 24.88%.
A number of hedge funds have recently made changes to their positions in BAM. Bank of Montreal Can bought a new stake in shares of Brookfield Asset Management during the second quarter valued at about $1,134,262,000. Mackenzie Financial Corp boosted its stake in shares of Brookfield Asset Management by 85,158.3% in the second quarter. Mackenzie Financial Corp now owns 11,759,684 shares of the company’s stock valued at $388,893,000 after buying an additional 11,745,891 shares during the period. CIBC World Markets Inc. boosted its stake in shares of Brookfield Asset Management by 25.7% in the second quarter. CIBC World Markets Inc. now owns 14,974,038 shares of the company’s stock valued at $495,191,000 after buying an additional 3,065,448 shares during the period. Vanguard Group Inc. boosted its stake in shares of Brookfield Asset Management by 12.1% in the second quarter. Vanguard Group Inc. now owns 16,644,423 shares of the company’s stock valued at $550,431,000 after buying an additional 1,800,655 shares during the period. Finally, CI Investments Inc. boosted its stake in shares of Brookfield Asset Management by 198.4% in the second quarter. CI Investments Inc. now owns 2,685,564 shares of the company’s stock valued at $88,812,000 after buying an additional 1,785,564 shares during the period. 53.65% of the stock is currently owned by institutional investors and hedge funds.
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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