Scotiabank Issues Pessimistic Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Key Points

• Scotiabank cut its price objective on Brookfield Asset Management to $56 (from $64) while retaining a "sector outperform" rating, implying roughly a 29% upside from the current share price.
• Analyst views are mixed — MarketBeat shows an average rating of Hold with an average price target of $63.18, and broker targets ranging from about $52 to $72 across firms.
• Shares trade around $43.33 (52‑week range $41.78–$64.10) with a market cap near $71 billion, a P/E of ~28.5 and a reported quarterly ROE of 29.8%.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price objective cut by equities research analysts at Scotiabank from $64.00 to $56.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the financial services provider's stock. Scotiabank's price objective would indicate a potential upside of 29.25% from the company's current price.

A number of other research analysts also recently commented on BAM. Zacks Research downgraded Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. JPMorgan Chase & Co. boosted their target price on Brookfield Asset Management from $68.00 to $72.00 and gave the company a "neutral" rating in a research report on Thursday, February 5th. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a report on Tuesday, January 6th. UBS Group set a $52.00 price objective on Brookfield Asset Management in a report on Friday, February 20th. Finally, BMO Capital Markets raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $63.18.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.46 during trading on Wednesday, hitting $43.33. 276,553 shares of the company's stock were exchanged, compared to its average volume of 3,605,667. The business's 50-day simple moving average is $48.71 and its 200 day simple moving average is $52.50. The company has a market cap of $70.97 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 1.54 and a beta of 1.42. Brookfield Asset Management has a 52-week low of $41.78 and a 52-week high of $64.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The company had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. As a group, equities analysts predict that Brookfield Asset Management will post 1.7 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. PDS Planning Inc lifted its holdings in shares of Brookfield Asset Management by 4.8% during the third quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider's stock worth $231,000 after purchasing an additional 184 shares during the period. Truist Financial Corp increased its holdings in Brookfield Asset Management by 1.4% in the 3rd quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider's stock worth $754,000 after buying an additional 187 shares during the period. Focus Financial Network Inc. raised its position in Brookfield Asset Management by 4.6% during the 4th quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider's stock worth $232,000 after buying an additional 194 shares during the last quarter. Crescent Grove Advisors LLC raised its position in Brookfield Asset Management by 4.3% during the 4th quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider's stock worth $251,000 after buying an additional 200 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in Brookfield Asset Management by 3.6% during the 4th quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider's stock valued at $330,000 after acquiring an additional 218 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

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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