Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price raised by investment analysts at Royal Bank of Canada from $55.00 to $68.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 19.38% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. CIBC raised their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. cut their price objective 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. Wells Fargo & Company upped their target price on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday. Bank of America lifted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Stock Up 2.5 %

BAM opened at $56.96 on Tuesday. The company’s 50-day moving average price is $47.78 and its 200 day moving average price is $42.55. Brookfield Asset Management has a fifty-two week low of $30.59 and a fifty-two week high of $57.36. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of 50.41, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm earned $0.35 EPS. Research analysts anticipate that Brookfield Asset Management will post 1.43 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after purchasing an additional 2,788,611 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Brookfield Asset Management by 19.5% during the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Brookfield Asset Management in the second quarter worth approximately $42,160,000. TD Asset Management Inc increased its holdings in shares of Brookfield Asset Management by 8.5% in the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after buying an additional 1,066,015 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Brookfield Asset Management by 49.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider’s stock valued at $74,802,000 after acquiring an additional 591,130 shares during 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.