Brookfield Asset Management (NYSE:BAM) PT Raised to $53.00 at Royal Bank of Canada

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price raised by Royal Bank of Canada from $50.00 to $53.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 38.67% from the company’s current price.

Other equities analysts also recently issued reports about the company. BMO Capital Markets raised their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. TD Securities dropped their price target on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research report on Tuesday, January 9th. CIBC raised their price target on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. HSBC downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Scotiabank raised their price target on Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Brookfield Asset Management Price Performance

NYSE BAM opened at $38.22 on Monday. Brookfield Asset Management has a 1-year low of $28.35 and a 1-year high of $43.00. The company has a market capitalization of $15.79 billion, a P/E ratio of 33.82, a PEG ratio of 1.53 and a beta of 1.68. The business has a 50 day moving average price of $40.81 and a 200 day moving average price of $37.94.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.13 billion during the quarter. During the same period in the previous year, the business earned $0.31 earnings per share. On average, research analysts expect that Brookfield Asset Management will post 1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds have recently made changes to their positions in BAM. YHB Investment Advisors Inc. acquired a new stake in shares of Brookfield Asset Management during the first quarter worth $26,000. Private Trust Co. NA boosted its holdings in Brookfield Asset Management by 180.4% in the third quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 680 shares during the last quarter. Signaturefd LLC boosted its holdings in Brookfield Asset Management by 106.4% in the third quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 764 shares during the last quarter. Bfsg LLC acquired a new position in Brookfield Asset Management in the fourth quarter valued at $51,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Brookfield Asset Management by 39.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 500 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.