Brookfield Asset Management (NYSE:BAM) PT Raised to $40.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective lifted by equities researchers at BMO Capital Markets from $37.00 to $40.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ target price suggests a potential downside of 10.51% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Scotiabank lowered their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a report on Thursday, August 8th. CIBC upped their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $43.81.

Brookfield Asset Management Price Performance

BAM opened at $44.70 on Wednesday. The company’s 50 day moving average price is $40.98 and its two-hundred day moving average price is $40.26. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 2.09 and a beta of 1.56. Brookfield Asset Management has a fifty-two week low of $28.35 and a fifty-two week high of $44.82.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period in the prior year, the firm earned $0.28 EPS. As a group, equities research analysts predict that Brookfield Asset Management will post 1.42 EPS for the current year.

Institutional Trading of Brookfield Asset Management

Hedge funds and other institutional investors have recently bought and sold shares of the business. YHB Investment Advisors Inc. acquired a new position in shares of Brookfield Asset Management during the first quarter valued at about $26,000. Massmutual Trust Co. FSB ADV boosted its stake in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC increased its holdings in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.