Brokerages Set Brookfield Asset Management Inc (BAM) Price Target at $40.42

Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) has received a consensus recommendation of “Buy” from the ten research firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $40.67.

A number of research firms recently weighed in on BAM. TheStreet raised shares of Brookfield Asset Management from a “c+” rating to a “b” rating in a research report on Friday, February 17th. ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $41.00 target price on shares of Brookfield Asset Management in a research report on Wednesday, April 5th. TD Securities reaffirmed a “buy” rating on shares of Brookfield Asset Management in a research report on Saturday, May 13th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $45.00 price objective on shares of Brookfield Asset Management in a research report on Friday, May 12th.

Hedge funds have recently bought and sold shares of the company. Group One Trading L.P. bought a new stake in Brookfield Asset Management during the first quarter worth about $186,000. Gould Asset Management LLC CA bought a new stake in Brookfield Asset Management during the first quarter worth about $213,000. Fisher Asset Management LLC bought a new stake in Brookfield Asset Management during the first quarter worth about $215,000. Kings Point Capital Management boosted its stake in Brookfield Asset Management by 82.7% in the first quarter. Kings Point Capital Management now owns 6,275 shares of the financial services provider’s stock worth $229,000 after buying an additional 2,840 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. bought a new stake in Brookfield Asset Management during the first quarter worth about $237,000. Institutional investors own 53.52% of the company’s stock.

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Shares of Brookfield Asset Management (NYSE BAM) traded up 0.68% on Tuesday, hitting $38.29. The company had a trading volume of 720,748 shares. The company has a 50 day moving average of $37.86 and a 200-day moving average of $35.88. The company has a market cap of $36.70 billion, a price-to-earnings ratio of 30.71 and a beta of 1.04. Brookfield Asset Management has a 12-month low of $31.80 and a 12-month high of $38.99.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Thursday, May 11th. The financial services provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.26. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.02 billion. Brookfield Asset Management had a net margin of 5.39% and a return on equity of 2.12%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. On average, analysts forecast that Brookfield Asset Management will post $1.31 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, May 26th. Brookfield Asset Management’s dividend payout ratio is presently 44.80%.

About Brookfield Asset Management

Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.

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