Brookfield Asset Management Inc (BAM) PT Raised to $43.00

Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its price target increased by equities research analysts at Royal Bank Of Canada from $42.00 to $43.00 in a report issued on Friday. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 11.98% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. TD Securities reissued a “buy” rating on shares of Brookfield Asset Management in a research note on Saturday, May 13th. BidaskClub raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Scotiabank increased 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 note on Wednesday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $45.00 price objective on shares of Brookfield Asset Management in a research note on Friday, July 14th. Finally, ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Brookfield Asset Management presently has an average rating of “Buy” and a consensus target price of $41.81.

Shares of Brookfield Asset Management (NYSE BAM) opened at 38.40 on Friday. The firm has a market cap of $36.81 billion, a price-to-earnings ratio of 30.79 and a beta of 1.03. 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.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.28. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $5.27 billion. Brookfield Asset Management had a return on equity of 2.12% and a net margin of 5.39%. The business’s revenue was up 58.1% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS. On average, analysts expect that Brookfield Asset Management will post $0.99 EPS for the current year.

Brookfield Asset Management declared that its Board of Directors has initiated a stock buyback plan on Friday, May 19th that allows the company to repurchase 82,960,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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A number of institutional investors have recently made changes to their positions in the stock. Group One Trading L.P. acquired a new position in shares of Brookfield Asset Management during the first quarter valued at about $186,000. Visionary Asset Management Inc. acquired a new position in shares of Brookfield Asset Management during the second quarter valued at about $201,000. HM Payson & Co. acquired a new position in shares of Brookfield Asset Management during the second quarter valued at about $203,000. Bronfman E.L. Rothschild L.P. boosted its position 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 valued at $203,000 after buying an additional 2,738 shares during the period. Finally, Checchi Capital Advisers LLC acquired a new position in shares of Brookfield Asset Management during the second quarter valued at about $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.

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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