Brookfield Asset Management's (BAM) Outperform Rating Reiterated at Scotiabank

Key Points

• Scotiabank has lowered its price target for Brookfield Asset Management from $69.00 to $66.00, while maintaining an "outperform" rating, indicating a potential upside of 6.43% from the stock's previous close.
• Several brokerages have varying ratings for Brookfield Asset Management, with a consensus rating of "Moderate Buy" and an average price target of $62.06.
• BAM stock traded down to $62.01 recently, with a market capitalization of $101.55 billion and a P/E ratio of 44.16.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A's stock had its "outperform" rating restated by stock analysts at Scotiabank in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $66.00 target price on the financial services provider's stock, down from their prior target price of $69.00. Scotiabank's price target would indicate a potential upside of 8.65% from the stock's previous close.

Other equities analysts also recently issued reports about the company. National Bank Financial assumed coverage on Brookfield Asset Management in a research report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 target price on the stock. Morgan Stanley increased their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. TD Securities upped their price target on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Piper Sandler started coverage on shares of Brookfield Asset Management in a report on Monday, June 30th. They issued a "neutral" rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.06.

Brookfield Asset Management Stock Down 1.0%

NYSE:BAM traded down $0.58 during trading hours on Wednesday, reaching $60.75. The company's stock had a trading volume of 407,672 shares, compared to its average volume of 2,093,451. The company has a market capitalization of $99.48 billion, a P/E ratio of 43.11, a price-to-earnings-growth ratio of 2.30 and a beta of 1.44. Brookfield Asset Management has a 12 month low of $38.18 and a 12 month high of $63.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a 50 day moving average price of $57.37 and a two-hundred day moving average price of $54.89.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.40. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. Equities analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 432 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Brookfield Asset Management in the first quarter valued at about $28,000. ST Germain D J Co. Inc. purchased a new stake in shares of Brookfield Asset Management in the first quarter valued at about $26,000. NewEdge Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 325 shares in the last quarter. Finally, Truvestments Capital LLC boosted its holdings in shares of Brookfield Asset Management by 85.5% in the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

About Brookfield Asset Management

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.