Royal Bank Of Canada Issues Pessimistic Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target decreased by investment analysts at Royal Bank Of Canada from $74.00 to $65.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 31.36% from the stock’s previous close.

Several other research firms also recently commented on BAM. Scotiabank reiterated an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday. UBS Group set a $52.00 target price on Brookfield Asset Management in a research report on Friday, February 20th. JPMorgan Chase & Co. dropped their target price on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings upgraded Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 1st. Finally, Zacks Research downgraded Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.59.

Brookfield Asset Management Price Performance

Shares of BAM stock traded down $0.28 on Monday, hitting $49.48. 520,262 shares of the company’s stock were exchanged, compared to its average volume of 3,620,447. 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 12 month low of $42.20 and a 12 month high of $64.10. The stock has a market cap of $81.06 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. The company has a 50 day moving average of $45.90 and a 200 day moving average of $50.13.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.26% and a net margin of 49.69%.The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, equities research analysts predict that Brookfield Asset Management will post 1.73 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings in Brookfield Asset Management by 1.4% during the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after acquiring an additional 187 shares during the period. Focus Financial Network Inc. lifted its holdings in Brookfield Asset Management by 4.6% during the fourth quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 194 shares during the period. Crescent Grove Advisors LLC lifted its holdings in Brookfield Asset Management by 4.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 200 shares during the period. Kestra Advisory Services LLC lifted its holdings in Brookfield Asset Management by 3.6% during the fourth quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider’s stock worth $330,000 after acquiring an additional 218 shares during the period. Finally, Foundations Investment Advisors LLC lifted its holdings in Brookfield Asset Management by 1.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock worth $899,000 after acquiring an additional 226 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.