Brookfield Asset Management Inc (BAM) Lowered to Hold at ValuEngine
ValuEngine cut shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) from a buy rating to a hold rating in a research note issued to investors on Saturday.
BAM has been the subject of several other research reports. Royal Bank Of Canada reissued a buy rating and issued a $42.00 price target on shares of Brookfield Asset Management in a report on Tuesday, June 20th. BidaskClub raised shares of Brookfield Asset Management from a hold rating to a buy rating in a report on Thursday, June 29th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $45.00 price objective on shares of Brookfield Asset Management in a report on Friday, July 14th. Scotiabank lifted their target price on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the company an outperform rating in a research report on Wednesday, August 9th. Finally, TD Securities lifted their target price on shares of Brookfield Asset Management from $47.00 to $50.00 and gave the company a buy rating in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $44.50.
Shares of Brookfield Asset Management (NYSE BAM) opened at 41.79 on Friday. The company has a market capitalization of $40.07 billion, a P/E ratio of 32.42 and a beta of 1.04. The firm has a 50-day moving average of $39.73 and a 200-day moving average of $38.39. Brookfield Asset Management has a one year low of $32.04 and a one year high of $41.83.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.28). Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same period in the previous year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 58.1% compared to the same quarter last year. Analysts forecast that Brookfield Asset Management will post $1.18 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 31st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, August 29th. Brookfield Asset Management’s dividend payout ratio is currently 43.75%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. QS Investors LLC grew its holdings in shares of Brookfield Asset Management by 69.8% during the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,150 shares in the last quarter. Atlantic Trust LLC acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at about $191,000. Visionary Asset Management Inc. purchased a new position in shares of Brookfield Asset Management in the second quarter worth about $201,000. HM Payson & Co. purchased a new position in shares of Brookfield Asset Management in the second quarter worth about $203,000. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in shares of Brookfield Asset Management by 112.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock worth $203,000 after buying an additional 2,738 shares in the last quarter. 53.73% of the stock is currently owned by institutional investors.
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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