Brookfield Asset Management Inc. (BAM) Stock Rating Reaffirmed by Canaccord Genuity
Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a note issued to investors on Monday. They currently have a $40.00 price objective on the stock. Canaccord Genuity’s price target suggests a potential upside of 20.81% from the stock’s current price.
Other equities analysts have also issued reports about the company. Credit Suisse Group AG set a $36.00 price objective on Brookfield Asset Management and gave the stock a “hold” rating in a report on Thursday, October 6th. TD Securities reissued a “buy” rating and issued a $46.00 price objective on shares of Brookfield Asset Management in a report on Sunday, October 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $42.00 price objective (up from $40.00) on shares of Brookfield Asset Management in a report on Monday, September 26th. TheStreet raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Monday, October 31st. Finally, Royal Bank Of Canada raised Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 price objective for the company in a report on Thursday, September 22nd. Two equities 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. The company currently has a consensus rating of “Buy” and an average price target of $40.24.
Brookfield Asset Management (NYSE:BAM) opened at 32.93 on Monday. The stock has a 50 day moving average price of $35.19 and a 200-day moving average price of $34.31. The firm has a market capitalization of $32.49 billion, a PE ratio of 16.02 and a beta of 1.05. Brookfield Asset Management has a 12-month low of $25.72 and a 12-month high of $36.25.
Brookfield Asset Management (NYSE:BAM) last announced its quarterly earnings results on Friday, November 11th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.65. The business had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Brookfield Asset Management had a return on equity of 3.76% and a net margin of 9.37%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. On average, equities research analysts forecast that Brookfield Asset Management will post $0.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 31st. Stockholders of record on Wednesday, November 30th will be issued a $0.13 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.57%. Brookfield Asset Management’s payout ratio is currently 24.88%.
Hedge funds have recently added to or reduced their stakes in the stock. HBK Investments L P purchased a new stake in shares of Brookfield Asset Management during the first quarter valued at about $316,000. Legal & General Group Plc increased its position in Brookfield Asset Management by 2.0% in the first quarter. Legal & General Group Plc now owns 3,611,613 shares of the company’s stock valued at $126,118,000 after buying an additional 72,252 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Brookfield Asset Management by 6.1% in the first quarter. Envestnet Asset Management Inc. now owns 114,124 shares of the company’s stock valued at $3,970,000 after buying an additional 6,563 shares during the last quarter. Steinberg Global Asset Management increased its position in Brookfield Asset Management by 2.1% in the first quarter. Steinberg Global Asset Management now owns 33,700 shares of the company’s stock valued at $1,172,000 after buying an additional 700 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. increased its position in Brookfield Asset Management by 1.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 15,614,316 shares of the company’s stock valued at $512,996,000 after buying an additional 204,743 shares during the last quarter. 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.
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