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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective increased by research analysts at TD Securities from $61.00 to $64.00 in a research note issued on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target would suggest a potential upside of 14.57% from the company’s current price.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.96.

Brookfield Asset Management Price Performance

Shares of BAM stock traded up $1.09 during trading hours on Tuesday, reaching $55.86. The stock had a trading volume of 917,948 shares, compared to its average volume of 1,273,577. Brookfield Asset Management has a twelve month low of $30.59 and a twelve month high of $57.36. The firm has a market capitalization of $24.82 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. The firm has a 50-day simple moving average of $47.19 and a 200-day simple moving average of $42.32.

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

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds have recently bought and sold shares of the stock. Hara Capital LLC bought a new position in Brookfield Asset Management during the third quarter worth about $27,000. Massmutual Trust Co. FSB ADV boosted its holdings in Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares during the last quarter. Continuum Advisory LLC grew its holdings in Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares in the last quarter. Finally, Richardson Financial Services Inc. raised its position in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 755 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.