Morgan Stanley Issues Pessimistic Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price lowered by analysts at Morgan Stanley from $63.00 to $62.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 27.10% from the company’s previous close.

BAM has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. The Goldman Sachs Group dropped their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Scotiabank cut their target price on shares of Brookfield Asset Management from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Finally, Zacks Research lowered shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.76.

Brookfield Asset Management Stock Down 0.6%

Shares of BAM stock traded down $0.27 on Tuesday, hitting $48.78. The company’s stock had a trading volume of 646,328 shares, compared to its average volume of 3,677,458. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $64.10. The firm’s fifty day moving average price is $46.67 and its 200-day moving average price is $50.82. The stock has a market capitalization of $79.91 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 2.01 and a beta of 1.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Research analysts anticipate that Brookfield Asset Management will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Zions Bancorporation National Association UT increased its holdings in shares of Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 345 shares during the period. LOM Asset Management Ltd bought a new position in shares of Brookfield Asset Management during the 4th quarter worth about $31,000. eCIO Inc. bought a new position in shares of Brookfield Asset Management during the 4th quarter worth about $42,000. Assetmark Inc. increased its holdings in shares of Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 395 shares during the period. Finally, Cary Street Partners Financial LLC increased its holdings in shares of Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 562 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.