Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Brookfield Asset Management (BAM) Share Price
Media coverage about Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) has trended somewhat positive recently, according to Accern. The research group scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Brookfield Asset Management earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 46.2192951732244 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the media headlines that may have impacted Accern’s scoring:
- [$$] Brookfield’s Toll Road to Riches (finance.yahoo.com)
- 3 Solar Stocks for Heading Into the Third Quarter (finance.yahoo.com)
- Neuberger Berman Group LLC Buys A Little More Brookfield Asset Management Inc (BAM) Stock In The Last Quarter – Modern Readers (modernreaders.com)
- Bruni JV & Co Buys Range Resources Corp, Sells Level 3 Communications Inc, The Kroger Co, Care Capital … – GuruFocus.com (gurufocus.com)
- Brookfield Asset Management Inc. (BAM) locked -0.09% down from its SMA-50 – Street Observer (press release) (streetobserver.com)
Shares of Brookfield Asset Management (NYSE BAM) traded up 0.70% during midday trading on Wednesday, reaching $38.99. 1,755,818 shares of the company traded hands. The stock’s 50-day moving average is $39.02 and its 200-day moving average is $37.25. The stock has a market capitalization of $37.37 billion, a P/E ratio of 31.27 and a beta of 1.03. Brookfield Asset Management has a 1-year low of $32.04 and a 1-year high of $40.09.
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) earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.26. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.02 billion. Brookfield Asset Management had a net margin of 5.39% and a return on equity of 2.12%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities analysts predict that Brookfield Asset Management will post $1.32 EPS for the current fiscal year.
Brookfield Asset Management declared that its board has approved a stock repurchase program 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 programs are often a sign that the company’s board believes its stock is undervalued.
Several brokerages recently commented on BAM. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $45.00 price target on shares of Brookfield Asset Management in a report on Friday, May 12th. BidaskClub raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Royal Bank Of Canada boosted their price target on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 12th. ValuEngine lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Scotiabank boosted their price target on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $41.69.
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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