Brookfield Asset Management (NYSE:BAM) Price Target Raised to $56.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has raised its price target for Brookfield Asset Management from $53.00 to $56.00, indicating a potential downside of 11.06% from the recent closing price.
• Other analysts also provided positive outlooks, with TD Securities setting a target of $75.00 and National Bank Financial at $71.00, as the stock maintains an average rating of "Moderate Buy."
• Brookfield Asset Management recently reported an EPS of $0.40, meeting consensus estimates, alongside a net margin of 55.26% for the quarter.

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its price target increased by BMO Capital Markets from $53.00 to $56.00 in a report issued on Thursday, Marketbeat reports. The firm currently has a market perform rating on the financial services provider's stock.

BAM has been the subject of several other research reports. National Bank Financial initiated coverage on Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 target price for the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a research report on Thursday. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Thursday, April 10th. Scotiabank reissued an "outperform" rating and issued a $66.00 price target (down from $69.00) on shares of Brookfield Asset Management in a report on Wednesday, July 30th. Finally, Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research report on Friday, July 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of "Moderate Buy" and a consensus target price of $62.33.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock traded up $0.44 during mid-day trading on Thursday, reaching $61.36. The company's stock had a trading volume of 2,030,943 shares, compared to its average volume of 1,897,248. The firm's fifty day moving average price is $57.79 and its two-hundred day moving average price is $55.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. Brookfield Asset Management has a 12-month low of $38.95 and a 12-month high of $64.10. The company has a market capitalization of $100.49 billion, a P/E ratio of 41.18, a PEG ratio of 2.35 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 49.10% and a net margin of 55.92%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. Sell-side analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's dividend payout ratio is presently 124.11%.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently modified their holdings of the company. Summitry LLC lifted its holdings in shares of Brookfield Asset Management by 7.2% in the 2nd quarter. Summitry LLC now owns 144,578 shares of the financial services provider's stock worth $7,992,000 after acquiring an additional 9,724 shares during the last quarter. Cetera Investment Advisers raised its position in Brookfield Asset Management by 0.9% in the 2nd quarter. Cetera Investment Advisers now owns 40,395 shares of the financial services provider's stock worth $2,232,000 after purchasing an additional 353 shares during the period. Creative Planning raised its position in Brookfield Asset Management by 29.6% in the 2nd quarter. Creative Planning now owns 124,924 shares of the financial services provider's stock worth $6,906,000 after purchasing an additional 28,502 shares during the period. Foundations Investment Advisors LLC lifted its stake in Brookfield Asset Management by 16.7% in the second quarter. Foundations Investment Advisors LLC now owns 18,165 shares of the financial services provider's stock worth $1,004,000 after purchasing an additional 2,596 shares during the last quarter. Finally, Advisors Capital Management LLC purchased a new stake in Brookfield Asset Management during the second quarter valued at about $201,000. 68.41% of the stock is currently owned by institutional investors.

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.