Brookfield Asset Management Inc (BAM) Price Target Increased to $50.00 by Analysts at TD Securities
Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its price target upped by equities research analysts at TD Securities from $47.00 to $50.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target would indicate a potential upside of 30.21% from the stock’s current price.
BAM has been the topic of several other research reports. Royal Bank Of Canada restated a “buy” rating and issued a $42.00 price target on shares of Brookfield Asset Management in a research report on Thursday, July 27th. ValuEngine cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $45.00 price objective on shares of Brookfield Asset Management in a research report on Friday, May 12th. Finally, Scotiabank boosted their price objective 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $42.19.
Shares of Brookfield Asset Management (BAM) traded down 0.29% during midday trading on Friday, reaching $38.29. 417,371 shares of the company’s stock traded hands. Brookfield Asset Management has a one year low of $32.04 and a one year high of $40.09. The company has a 50-day moving average of $39.07 and a 200-day moving average of $37.38. The company has a market capitalization of $36.70 billion, a price-to-earnings ratio of 30.71 and a beta of 1.03.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.28. Brookfield Asset Management had a return on equity of 2.12% and a net margin of 5.39%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $5.27 billion. During the same quarter in the prior year, the firm posted $0.15 EPS. The company’s revenue for the quarter was up 58.1% on a year-over-year basis. Equities research analysts anticipate that Brookfield Asset Management will post $0.99 EPS for the current year.
Brookfield Asset Management declared that its board has authorized a share buyback plan on Friday, May 19th that permits the company to buyback 82,960,000 outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
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Several hedge funds and other institutional investors have recently bought and sold shares of BAM. Group One Trading L.P. bought a new position in Brookfield Asset Management during the first quarter worth approximately $186,000. Visionary Asset Management Inc. bought a new position in Brookfield Asset Management during the second quarter worth approximately $201,000. HM Payson & Co. bought a new position in Brookfield Asset Management during the second quarter worth approximately $203,000. Bronfman E.L. Rothschild L.P. boosted its position in 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 during the last quarter. Finally, Checchi Capital Advisers LLC bought a new position in Brookfield Asset Management during the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 53.95% 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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