BidaskClub cut shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) from a hold rating to a sell rating in a research note released on Saturday.

Several other research analysts have also recently issued reports on BAM. TD Securities reissued a buy rating on shares of Brookfield Asset Management in a research report on Saturday, May 13th. Royal Bank Of Canada reissued a buy rating and issued a $42.00 target price on shares of Brookfield Asset Management in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a buy rating and issued a $45.00 target price on shares of Brookfield Asset Management in a research report on Friday, July 14th. Finally, ValuEngine cut Brookfield Asset Management from a buy rating to a hold rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $41.57.

Shares of Brookfield Asset Management (NYSE:BAM) opened at 38.72 on Friday. Brookfield Asset Management has a 12-month low of $32.04 and a 12-month high of $40.09. The firm’s 50-day moving average is $39.02 and its 200 day moving average is $37.25. The stock has a market capitalization of $37.12 billion, a P/E ratio of 31.05 and a beta of 1.03.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Thursday, May 11th. The financial services provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.18 by $0.26. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.02 billion. Brookfield Asset Management had a return on equity of 2.12% and a net margin of 5.39%. Brookfield Asset Management’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share. On average, equities research analysts forecast that Brookfield Asset Management will post $1.32 EPS for the current fiscal year.

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Brookfield Asset Management declared that its board has authorized a share buyback plan on Friday, May 19th that authorizes the company to buyback 82,960,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Several hedge funds and other institutional investors have recently bought and sold shares of BAM. Creative Planning boosted its position in Brookfield Asset Management by 15.6% in the first quarter. Creative Planning now owns 48,050 shares of the financial services provider’s stock worth $1,752,000 after buying an additional 6,474 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in Brookfield Asset Management by 5.0% in the first quarter. Gulf International Bank UK Ltd now owns 276,477 shares of the financial services provider’s stock worth $10,058,000 after buying an additional 13,200 shares during the last quarter. Fenimore Asset Management Inc. boosted its position in Brookfield Asset Management by 0.9% in the first quarter. Fenimore Asset Management Inc. now owns 2,010,079 shares of the financial services provider’s stock worth $73,287,000 after buying an additional 17,044 shares during the last quarter. Bank of Montreal Can boosted its position in Brookfield Asset Management by 3.6% in the first quarter. Bank of Montreal Can now owns 37,833,475 shares of the financial services provider’s stock worth $1,379,408,000 after buying an additional 1,310,802 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its position in Brookfield Asset Management by 3.5% in the first quarter. Capstone Asset Management Co. now owns 93,383 shares of the financial services provider’s stock worth $3,405,000 after buying an additional 3,180 shares during the last quarter. 53.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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