Brookfield Asset Management Inc (BAM) Price Target Raised to $42.00

Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its target price raised by Royal Bank Of Canada from $41.00 to $42.00 in a report published on Friday, May 12th. Royal Bank Of Canada currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts have also commented on the company. Citigroup Inc. initiated coverage on Brookfield Asset Management in a research note on Thursday, January 19th. They set a buy rating and a $39.00 price target on the stock. Canaccord Genuity reissued a buy rating and set a $40.00 price target on shares of Brookfield Asset Management in a research note on Thursday, February 9th. Finally, TheStreet raised Brookfield Asset Management from a c+ rating to a b rating in a research note on Friday, February 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $41.57.

Shares of Brookfield Asset Management (NYSE:BAM) traded up 0.68% during trading on Friday, hitting $38.29. The stock had a trading volume of 720,748 shares. The stock has a 50-day moving average price of $37.86 and a 200 day moving average price of $35.88. Brookfield Asset Management has a 12 month low of $31.80 and a 12 month high of $38.99. The company has a market cap of $36.70 billion, a P/E ratio of 30.71 and a beta of 1.04.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, May 11th. The financial services provider reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.26. Brookfield Asset Management had a net margin of 8.63% and a negative return on equity of 1.30%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the firm posted $0.69 EPS. Brookfield Asset Management’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts expect that Brookfield Asset Management will post $1.31 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Brookfield Asset Management Inc (BAM) Price Target Raised to $42.00” was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://www.com-unik.info/2017/06/17/brookfield-asset-management-inc-bam-pt-raised-to-42-00-updated-updated-updated.html.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.56 annualized dividend and a yield of 1.46%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 44.80%.

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Brookfield Asset Management by 0.5% in the first quarter. Signaturefd LLC now owns 9,975 shares of the financial services provider’s stock worth $364,000 after buying an additional 45 shares during the last quarter. Essex Financial Services Inc. increased its stake in Brookfield Asset Management by 1.2% in the fourth quarter. Essex Financial Services Inc. now owns 16,391 shares of the financial services provider’s stock worth $541,000 after buying an additional 189 shares during the last quarter. Geode Capital Management LLC increased its stake in Brookfield Asset Management by 4.2% in the first quarter. Geode Capital Management LLC now owns 7,262 shares of the financial services provider’s stock worth $264,000 after buying an additional 296 shares during the last quarter. Allen Investment Management LLC increased its stake in Brookfield Asset Management by 2.2% in the first quarter. Allen Investment Management LLC now owns 14,868 shares of the financial services provider’s stock worth $542,000 after buying an additional 321 shares during the last quarter. Finally, Levin Capital Strategies L.P. increased its stake in Brookfield Asset Management by 1.6% in the first quarter. Levin Capital Strategies L.P. now owns 21,000 shares of the financial services provider’s stock worth $766,000 after buying an additional 330 shares during the last quarter. Institutional investors and hedge funds own 53.52% 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.

What are top analysts saying about Brookfield Asset Management Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Brookfield Asset Management Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit