Shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) have received an average rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $65.80.
A number of research firms have recently weighed in on BAM. Citigroup cut shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. TD Securities raised their price target on shares of Brookfield Asset Management from $73.00 to $77.00 and gave the company a “buy” rating in a report on Friday. Credit Suisse Group raised their price target on shares of Brookfield Asset Management from $60.00 to $68.00 and gave the company an “average” rating in a report on Monday, January 13th. They noted that the move was a valuation call. CIBC restated a “buy” rating on shares of Brookfield Asset Management in a report on Friday. Finally, Royal Bank of Canada raised their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, November 18th.
Shares of NYSE:BAM traded up $1.33 during trading on Friday, reaching $67.96. The stock had a trading volume of 1,653,614 shares, compared to its average volume of 1,135,084. Brookfield Asset Management has a one year low of $43.03 and a one year high of $68.34. The company has a market capitalization of $66.95 billion, a P/E ratio of 18.27 and a beta of 1.07. The company has a current ratio of 1.11, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The firm’s 50-day simple moving average is $60.87 and its 200 day simple moving average is $55.71.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.49. Brookfield Asset Management had a net margin of 5.82% and a return on equity of 3.95%. The business had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $13.75 billion. During the same period last year, the business earned $1.87 EPS. The company’s revenue was up 11.3% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 28th will be paid a $0.18 dividend. The ex-dividend date is Thursday, February 27th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.06%.
Hedge funds have recently added to or reduced their stakes in the stock. Strategic Blueprint LLC acquired a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $25,000. Security National Trust Co. acquired a new stake in Brookfield Asset Management in the 4th quarter worth approximately $31,000. HBC Financial Services PLLC acquired a new stake in Brookfield Asset Management in the 4th quarter worth approximately $32,000. Vestcor Investment Management Corp acquired a new stake in Brookfield Asset Management in the 4th quarter worth approximately $35,000. Finally, CWM LLC boosted its stake in Brookfield Asset Management by 122.5% in the 4th quarter. CWM LLC now owns 663 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 365 shares in the last quarter. Institutional investors own 60.46% of the company’s stock.
About Brookfield Asset Management
Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.
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