Brookfield Asset Management (BAM) Receives Consensus Rating of “Buy” from Brokerages

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) has earned a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $48.75.

Several research firms have commented on BAM. TheStreet lowered shares of Brookfield Asset Management from a “b-” rating to a “c+” rating in a research note on Thursday, January 25th. Scotiabank boosted their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, May 11th. TD Securities boosted their target price on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, May 14th. Finally, Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 16th.

A number of large investors have recently added to or reduced their stakes in the stock. Partners Value Investments LP lifted its stake in Brookfield Asset Management by 1,307.6% in the first quarter. Partners Value Investments LP now owns 85,839,025 shares of the financial services provider’s stock worth $3,347,722,000 after acquiring an additional 79,740,966 shares during the period. Principal Financial Group Inc. lifted its stake in Brookfield Asset Management by 9.0% in the first quarter. Principal Financial Group Inc. now owns 27,657,747 shares of the financial services provider’s stock worth $1,078,648,000 after acquiring an additional 2,289,553 shares during the period. Mackenzie Financial Corp lifted its stake in Brookfield Asset Management by 30.6% in the fourth quarter. Mackenzie Financial Corp now owns 14,712,354 shares of the financial services provider’s stock worth $640,576,000 after acquiring an additional 3,444,469 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Brookfield Asset Management by 4.7% in the first quarter. The Manufacturers Life Insurance Company now owns 13,020,161 shares of the financial services provider’s stock worth $507,786,000 after acquiring an additional 583,171 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Brookfield Asset Management by 16.3% in the first quarter. CIBC Asset Management Inc now owns 12,407,223 shares of the financial services provider’s stock worth $482,896,000 after acquiring an additional 1,742,122 shares during the period. 60.77% of the stock is owned by institutional investors.

NYSE BAM opened at $40.80 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.19 and a debt-to-equity ratio of 0.96. The firm has a market cap of $38.86 billion, a price-to-earnings ratio of 18.05 and a beta of 1.02. Brookfield Asset Management has a 52 week low of $37.22 and a 52 week high of $44.33.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, May 10th. The financial services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $0.16 by $1.00. The company had revenue of $12.63 billion during the quarter. Brookfield Asset Management had a net margin of 4.97% and a return on equity of 3.18%. The firm’s quarterly revenue was up 110.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, May 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, May 30th.

Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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