TD Securities Issues Positive Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price upped by TD Securities from $50.00 to $61.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target indicates a potential upside of 13.38% from the stock’s previous close.

Several other brokerages also recently commented on BAM. Wells Fargo & Company raised their price objective on Brookfield Asset Management from $42.00 to $48.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 9th. Scotiabank dropped their price target on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and a consensus price target of $48.32.

Brookfield Asset Management Trading Up 0.5 %

Brookfield Asset Management stock opened at $53.80 on Tuesday. The firm has a market capitalization of $23.87 billion, a P/E ratio of 49.81, a PEG ratio of 2.26 and a beta of 1.56. The business has a 50-day moving average of $46.43 and a 200-day moving average of $41.98. Brookfield Asset Management has a 1 year low of $28.35 and a 1 year high of $54.20.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter in the prior year, the firm posted $0.28 EPS. Research analysts anticipate that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds have recently modified their holdings of the stock. Radnor Capital Management LLC bought a new stake in Brookfield Asset Management during the third quarter worth about $430,000. Marks Group Wealth Management Inc raised its stake in shares of Brookfield Asset Management by 3.9% during the 3rd quarter. Marks Group Wealth Management Inc now owns 171,680 shares of the financial services provider’s stock worth $8,119,000 after purchasing an additional 6,421 shares in the last quarter. Heritage Investors Management Corp acquired a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at approximately $234,000. River Road Asset Management LLC boosted its holdings in shares of Brookfield Asset Management by 23.5% in the 3rd quarter. River Road Asset Management LLC now owns 182,478 shares of the financial services provider’s stock valued at $8,629,000 after buying an additional 34,726 shares during the last quarter. Finally, Intact Investment Management Inc. grew its stake in shares of Brookfield Asset Management by 82.8% in the third quarter. Intact Investment Management Inc. now owns 231,740 shares of the financial services provider’s stock valued at $10,957,000 after buying an additional 104,980 shares in the last quarter. Institutional investors 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.