ValuEngine Downgrades Brookfield Asset Management (NYSE:BAM) to Sell

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on BAM. BMO Capital Markets lifted their price objective on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Citigroup lifted their price objective on shares of Brookfield Asset Management from $56.00 to $62.50 and gave the company a “buy” rating in a research note on Friday, September 27th. TD Securities lifted their price objective on shares of Brookfield Asset Management from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Finally, Canaccord Genuity set a $62.00 price objective on shares of Brookfield Asset Management and gave the company a “buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $58.93.

Shares of NYSE BAM traded up $0.50 during midday trading on Wednesday, reaching $51.34. 1,875,503 shares of the company traded hands, compared to its average volume of 1,509,023. Brookfield Asset Management has a 52 week low of $36.58 and a 52 week high of $54.47. The stock has a 50-day moving average price of $52.35 and a 200 day moving average price of $48.95. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.11 and a quick ratio of 0.87. The company has a market cap of $51.06 billion, a price-to-earnings ratio of 17.80 and a beta of 1.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.25. Brookfield Asset Management had a net margin of 4.86% and a return on equity of 3.31%. The business had revenue of $16.92 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The company’s revenue was up 27.5% on a year-over-year basis.

Institutional investors have recently modified their holdings of the business. Zions Bancorporation N.A. bought a new stake in Brookfield Asset Management in the first quarter worth about $27,000. HM Payson & Co. bought a new stake in Brookfield Asset Management in the second quarter worth about $32,000. AdvisorNet Financial Inc raised its position in Brookfield Asset Management by 233.0% in the second quarter. AdvisorNet Financial Inc now owns 979 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 685 shares in the last quarter. Huntington National Bank bought a new stake in Brookfield Asset Management in the second quarter worth about $48,000. Finally, North Star Investment Management Corp. bought a new stake in Brookfield Asset Management in the third quarter worth about $69,000. Hedge funds and other institutional investors own 60.87% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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