Royal Bank Of Canada Issues Pessimistic Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Key Points

• Royal Bank of Canada cut its price target on Brookfield Asset Management from $74 to $65, while keeping an outperform rating on the stock.
• Despite the lower target, RBC’s new estimate still implies about 31% upside from the prior close. Other analysts are more mixed, and MarketBeat’s consensus rating remains Hold with a $60.59 target price.
• Brookfield Asset Management recently reported EPS of $0.43, beating expectations, but revenue of $1.32 billion came in below forecasts. The stock traded around $49.48 on Monday, below the analyst consensus target range.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price target reduced by investment analysts at Royal Bank Of Canada from $74.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 31.36% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Zacks Research lowered Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. Scotiabank reiterated an "outperform" rating and set a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday. UBS Group set a $52.00 target price on Brookfield Asset Management in a research note on Friday, February 20th. JPMorgan Chase & Co. decreased their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group decreased their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.59.

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Brookfield Asset Management Price Performance

NYSE:BAM traded down $0.28 during trading hours on Monday, reaching $49.48. The company had a trading volume of 520,262 shares, compared to its average volume of 3,620,447. The stock has a 50-day moving average of $45.90 and a two-hundred day moving average of $50.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $81.06 billion, a PE ratio of 32.13, a PEG ratio of 2.06 and a beta of 1.28. Brookfield Asset Management has a one year low of $42.20 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.26% and a net margin of 49.69%.The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.43 billion. Analysts forecast that Brookfield Asset Management will post 1.73 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of BAM. Zions Bancorporation National Association UT lifted its position in Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider's stock worth $26,000 after purchasing an additional 345 shares during the period. LOM Asset Management Ltd bought a new stake in Brookfield Asset Management during the fourth quarter worth about $31,000. eCIO Inc. bought a new stake in Brookfield Asset Management during the fourth quarter worth about $42,000. Assetmark Inc. lifted its position in Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider's stock worth $46,000 after purchasing an additional 395 shares during the period. Finally, Cary Street Partners Financial LLC lifted its position in shares of Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider's stock worth $46,000 after buying an additional 562 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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