Brookfield Asset Management Inc. (BAM) Stock Rating Reaffirmed by TD Securities
Brookfield Asset Management Inc. (NYSE:BAM)‘s stock had its “buy” rating reaffirmed by analysts at TD Securities in a report released on Sunday. They currently have a $46.00 price target on the stock. TD Securities’ price objective suggests a potential upside of 30.76% from the company’s current price.
A number of other equities research analysts also recently issued reports on BAM. Vetr upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating and set a $38.94 price objective on the stock in a research report on Monday, June 6th. 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. TheStreet downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Monday, September 19th. Credit Suisse Group AG set a $36.00 price objective on Brookfield Asset Management and gave the company a “hold” rating in a research report on Monday, August 22nd. Finally, Zacks Investment Research downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $40.07.
Brookfield Asset Management (NYSE:BAM) traded down 0.34% during midday trading on Friday, hitting $35.18. The company had a trading volume of 1,102,285 shares. The company has a market capitalization of $33.74 billion, a P/E ratio of 27.21 and a beta of 0.97. Brookfield Asset Management has a 52 week low of $25.72 and a 52 week high of $35.73. The stock has a 50 day moving average price of $34.13 and a 200 day moving average price of $33.90.
Brookfield Asset Management (NYSE:BAM) last announced its quarterly earnings results on Friday, August 12th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.39. Brookfield Asset Management had a return on equity of 2.54% and a net margin of 6.47%. The company earned $5.97 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. Equities analysts forecast that Brookfield Asset Management will post $0.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.13 per share. The ex-dividend date was Monday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.48%. Brookfield Asset Management’s payout ratio is currently 39.39%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased 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 valued at $108,000 after buying an additional 3,078 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Brookfield Asset Management by 43.3% in the second quarter. Hillsdale Investment Management Inc. now owns 4,200 shares of the company’s stock valued at $138,000 after buying an additional 1,270 shares during the period. Feltz Wealth PLAN Inc. bought a new stake in shares of Brookfield Asset Management during the second quarter valued at about $143,000. FineMark National Bank & Trust boosted its stake in shares of Brookfield Asset Management by 63.1% in the second quarter. FineMark National Bank & Trust now owns 5,220 shares of the company’s stock valued at $173,000 after buying an additional 2,019 shares during the period. Finally, Fisher Asset Management LLC bought a new stake in shares of Brookfield Asset Management during the second quarter valued at about $207,000. Institutional investors own 53.31% 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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