Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Scotia Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by Scotia from $57.00 to $59.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the financial services provider’s stock. Scotia’s target price indicates a potential upside of 11.65% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Weiss Ratings downgraded Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lowered their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a research report on Monday, May 11th. Morgan Stanley set a $56.00 price objective on shares of Brookfield Asset Management and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.22.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded up $0.22 on Thursday, hitting $52.85. 1,408,626 shares of the company’s stock were exchanged, compared to its average volume of 3,296,864. Brookfield Asset Management has a 1 year low of $42.20 and a 1 year high of $63.54. The company has a 50-day simple moving average of $47.16 and a 200-day simple moving average of $47.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $86.57 billion, a PE ratio of 34.30, a PEG ratio of 2.11 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.76 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BAM. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after acquiring an additional 297,790 shares during the last quarter. Cooke & Bieler LP raised its position in shares of Brookfield Asset Management by 48.6% in the 4th quarter. Cooke & Bieler LP now owns 2,001,903 shares of the financial services provider’s stock valued at $104,880,000 after purchasing an additional 655,009 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Brookfield Asset Management by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock valued at $411,972,000 after purchasing an additional 533,639 shares during the last quarter. Nicola Wealth Management LTD. boosted its stake in Brookfield Asset Management by 16.3% in the 4th quarter. Nicola Wealth Management LTD. now owns 251,758 shares of the financial services provider’s stock worth $13,190,000 after purchasing an additional 35,200 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its stake in Brookfield Asset Management by 32.5% in the 4th quarter. Intact Investment Management Inc. now owns 782,558 shares of the financial services provider’s stock worth $40,992,000 after purchasing an additional 191,998 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.