Brookfield Asset Management’s (BAM) Buy Rating Reiterated at TD Securities
Brookfield Asset Management Inc. (NYSE:BAM)‘s stock had its “buy” rating reissued by analysts at TD Securities in a research note issued on Tuesday. They presently have a $47.00 price target on the stock, up from their previous price target of $46.00. TD Securities’ price target indicates a potential upside of 43.21% from the company’s current price.
Other analysts have also recently issued research reports about the stock. Canaccord Genuity reiterated a “buy” rating and issued a $38.00 price target on shares of Brookfield Asset Management in a report on Friday, August 12th. TheStreet upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Monday, October 31st. Credit Suisse Group AG set a $36.00 price target on shares of Brookfield Asset Management and gave the company a “hold” rating in a report on Monday, August 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $42.00 price target (up previously from $40.00) on shares of Brookfield Asset Management in a report on Monday, September 26th. Finally, RBC Capital Markets reiterated a “top pick” rating and issued a $40.00 price target (down previously from $41.00) on shares of Brookfield Asset Management in a report on Monday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. Brookfield Asset Management has an average rating of “Buy” and a consensus price target of $40.24.
Brookfield Asset Management (NYSE:BAM) opened at 32.82 on Tuesday. Brookfield Asset Management has a 12-month low of $25.72 and a 12-month high of $36.25. The firm’s 50-day moving average is $35.19 and its 200 day moving average is $34.31. The firm has a market cap of $32.38 billion, a P/E ratio of 15.96 and a beta of 1.05.
Brookfield Asset Management (NYSE:BAM) last issued its earnings results on Friday, November 11th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.65. Brookfield Asset Management had a net margin of 9.37% and a return on equity of 3.76%. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the business earned $0.27 earnings per share. The business’s revenue was up 24.3% on a year-over-year basis. Equities analysts forecast that Brookfield Asset Management will post $0.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 31st. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. Brookfield Asset Management’s dividend payout ratio is currently 24.88%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its position in Brookfield Asset Management by 1,570.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,274 shares of the company’s stock worth $108,000 after buying an additional 3,078 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in Brookfield Asset Management by 43.3% in the second quarter. Hillsdale Investment Management Inc. now owns 4,200 shares of the company’s stock worth $138,000 after buying an additional 1,270 shares in the last quarter. Feltz Wealth PLAN Inc. acquired a new position in Brookfield Asset Management during the second quarter worth approximately $143,000. FineMark National Bank & Trust boosted its position in Brookfield Asset Management by 63.1% in the second quarter. FineMark National Bank & Trust now owns 5,220 shares of the company’s stock worth $173,000 after buying an additional 2,019 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Brookfield Asset Management during the second quarter worth approximately $207,000. Institutional investors own 53.65% 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.
Receive News & Stock Ratings for Brookfield Asset Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management Inc. and related stocks with our FREE daily email newsletter.