Brookfield Asset Management (NYSE: BAM) (TSE: BAM.A) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a research report released Friday for clients and investors, reports Zacks.com.
According to Zacks, “Brookfield Asset Management Inc. is an asset manager. Focused on real estate, energy and infrastructure assets, the company has assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. At Brookfield they continually strive to ensure they have good corporate governance practices to maintain investor confidence in the way they do business. , the Company’s Disclosure Policy, Code of Business Conduct and Ethics and other related information on its corporate governance initiatives and practices. “
Several other equity research analysts also recently published reports on the stock. Scotiabank raised its target price for Brookfield Asset Management shares from $ 62.50 to $ 63.00 and assigned the share an “outperformance” rating in a research report published on Monday August 16. JPMorgan Chase & Co. raised its target price for Brookfield Asset Management shares from $ 57.00 to $ 62.00 and rated the company as “overweight” in a report released on Friday, June 18. TD Securities raised its target price for Brookfield Asset Management shares from $ 70.00 to $ 71.00 and assigned the company a “buy on share list” rating in a report released on Sunday August 15th. . Deutsche Bank Aktiengesellschaft raised its price target for Brookfield Asset Management shares from $ 46.00 to $ 50.00 and gave the company a “hold” rating in a report released on Monday, July 12. They noted that the move was an appraisal call. Finally, Citigroup began covering stocks in Brookfield Asset Management in a research note on Thursday, August 12. They set a “buy” rating and a price target of $ 68.00 for the stock. Three analysts gave the stock a conservation rating, seven issued a buy rating, and two gave the company’s stock a strong buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $ 58.92.
Brookfield Asset Management stock traded up $ 0.64 during trading hours on Friday, reaching $ 58.73. 1,188,075 shares were traded, for an average volume of 2,575,929. The stock has a market cap of $ 96.32 billion, a P / E ratio of 33.37 and a beta of 1.25. The company has a debt to equity ratio of 1.18, a quick ratio of 0.86, and a current ratio of 1.04. Brookfield Asset Management has a 52-week low of $ 29.09 and a 52-week high of $ 58.87. The company’s 50-day moving average is $ 55.73 and its 200-day moving average is $ 51.22.
Brookfield Asset Management (NYSE: BAM) (TSE: BAM.A) last reported its quarterly results on Wednesday, August 11. The financial services provider reported earnings per share (EPS) of $ 0.49 for the quarter, missing Zacks’ consensus estimate of $ 0.75 ($ 0.26). The company posted sales of $ 18.29 billion in the quarter. Brookfield Asset Management had a net margin of 4.21% and a return on equity of 2.43%. During the same period of the previous year, the company made EPS ($ 0.43). Equity research analysts predict that Brookfield Asset Management will post 2.17 EPS for the current fiscal year.
A number of large investors have recently increased or reduced their stakes in the company. Partners Value Investments LP increased its stake in Brookfield Asset Management shares by 0.6% in the second quarter. Partners Value Investments LP now owns 129,548,526 shares of the financial services provider valued at $ 6,604,383,855,000 after purchasing an additional 789,989 shares in the last quarter. Bank of Montreal Can increased its stake in Brookfield Asset Management shares by 8.9% in the second quarter. Bank of Montreal Can now owns 59,789,257 shares of the financial services provider valued at $ 3,136,545,000 after purchasing an additional 4,864,610 shares in the last quarter. Vanguard Group Inc. increased its stake in Brookfield Asset Management shares by 1.3% in the second quarter. Vanguard Group Inc. now owns 40,760,988 shares of the financial services provider valued at $ 2,077,996,000 after purchasing an additional 506,508 shares in the last quarter. TD Asset Management Inc. increased its stake in Brookfield Asset Management shares by 3.1% in the first quarter. TD Asset Management Inc. now owns 30,455,785 shares of the financial services provider valued at $ 1,354,559,000 after purchasing an additional 910,856 shares in the last quarter. Finally, 1832 Asset Management LP increased its stake in Brookfield Asset Management shares by 0.9% in the second quarter. 1832 Asset Management LP now owns 22,622,429 shares of the financial services provider valued at $ 1,178,650,000 after purchasing an additional 212,211 shares in the last quarter. 61.37% of the shares are currently held by institutional investors.
About Brookfield Asset Management
Brookfield Asset Management, Inc deals with the management of public and private investment products and services for institutional and retail clients. It operates through the following segments: asset management, real estate, renewable energy, infrastructure, private equity, residential development and corporate activities.
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