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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by equities researchers at Scotiabank from $55.50 to $59.50 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price target points to a potential upside of 7.09% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada raised their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America raised their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. BMO Capital Markets raised their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday. Jefferies Financial Group started coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $52.29.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.79 on Tuesday, hitting $55.56. The company’s stock had a trading volume of 2,071,417 shares, compared to its average volume of 1,278,967. The company has a 50-day simple moving average of $47.46 and a 200 day simple moving average of $42.45. Brookfield Asset Management has a 1 year low of $30.59 and a 1 year high of $57.36. The company has a market capitalization of $24.68 billion, a PE ratio of 49.17, a PEG ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period last year, the firm posted $0.35 EPS. On average, equities research analysts expect that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of large investors have recently made changes to their positions in the business. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management during the third quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Brookfield Asset Management by 98.2% during the second 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 in the last quarter. Continuum Advisory LLC boosted its position in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after buying an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its stake in Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

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.