Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its price target boosted by equities research analysts at Citigroup Inc. from $45.00 to $48.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup Inc.’s price target points to a potential upside of 22.73% from the company’s previous close.
BAM has been the subject of several other reports. BidaskClub cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Royal Bank Of Canada restated a “buy” rating and issued a $42.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, July 27th. ValuEngine cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Canaccord Genuity restated a “buy” rating and issued a $42.00 price objective on shares of Brookfield Asset Management in a research note on Friday, August 11th. Finally, TD Securities restated a “buy” rating on shares of Brookfield Asset Management in a research note on Saturday, May 13th. One 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 currently has a consensus rating of “Buy” and a consensus price target of $43.56.
Brookfield Asset Management (BAM) opened at 39.11 on Tuesday. The stock has a 50 day moving average price of $39.04 and a 200 day moving average price of $37.52. The stock has a market cap of $44.00 billion, a price-to-earnings ratio of 36.59 and a beta of 1.03. Brookfield Asset Management has a 52-week low of $32.04 and a 52-week high of $40.09.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, August 10th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.28. Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same quarter in the previous year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was up 58.1% compared to the same quarter last year. Analysts expect that Brookfield Asset Management will post $0.83 EPS for the current fiscal year.
Brookfield Asset Management announced 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 usually an indication that the company’s leadership believes its shares are undervalued.
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Hedge funds have recently bought and sold shares of the company. QS Investors LLC raised its stake in Brookfield Asset Management by 69.8% in the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock valued at $110,000 after buying an additional 1,150 shares during the period. Group One Trading L.P. bought a new stake in Brookfield Asset Management during the first quarter valued at approximately $186,000. Visionary Asset Management Inc. bought a new stake in Brookfield Asset Management during the second quarter valued at approximately $201,000. HM Payson & Co. bought a new stake in Brookfield Asset Management during the second quarter valued at approximately $203,000. Finally, Bronfman E.L. Rothschild L.P. raised its stake 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 valued at $203,000 after buying an additional 2,738 shares during the period. 53.96% of the stock is currently owned by hedge funds and other institutional investors.
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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