Brookfield Asset Management (NYSE:BAM) Price Target Cut to $44.50 by Analysts at Scotiabank

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price reduced by equities researchers at Scotiabank from $47.00 to $44.50 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective suggests a potential upside of 11.25% from the stock’s previous close.

A number of other research firms also recently commented on BAM. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Royal Bank of Canada lifted their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. CIBC raised their target price on Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.25.

Brookfield Asset Management Trading Up 2.2 %

BAM traded up $0.85 on Thursday, hitting $40.00. 2,641,621 shares of the company’s stock were exchanged, compared to its average volume of 1,475,267. The firm has a market cap of $16.53 billion, a PE ratio of 35.39, a P/E/G ratio of 1.51 and a beta of 1.73. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $43.00. The stock has a fifty day moving average of $40.61 and a two-hundred day moving average of $38.20.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. The business had revenue of $1.13 billion during the quarter. During the same period last year, the company earned $0.31 earnings per share. On average, analysts predict that Brookfield Asset Management will post 1.49 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. increased its stake in shares of Brookfield Asset Management by 4.7% in the fourth quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 277 shares during the last quarter. Choate Investment Advisors increased its stake in shares of Brookfield Asset Management by 3.3% during the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 285 shares during the last quarter. Jackson Hole Capital Partners LLC raised its holdings in shares of Brookfield Asset Management by 3.1% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 291 shares in the last quarter. Tritonpoint Wealth LLC boosted its holdings in Brookfield Asset Management by 0.4% in the first quarter. Tritonpoint Wealth LLC now owns 78,194 shares of the financial services provider’s stock worth $3,038,000 after purchasing an additional 321 shares in the last quarter. Finally, Quent Capital LLC increased its position in Brookfield Asset Management by 62.4% during the first quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds 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.