Brookfield Asset Management (NYSE:BAM) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reaffirmed their buy rating on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a report published on Tuesday, Price Targets.com reports. The brokerage currently has a $83.00 price objective on the financial services provider’s stock.

Several other equities analysts have also weighed in on BAM. Citigroup initiated coverage on shares of Brookfield Asset Management in a research report on Thursday, August 12th. They set a buy rating and a $68.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $46.00 to $50.00 and gave the company a hold rating in a research report on Monday, July 12th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on Brookfield Asset Management from C$57.00 to C$61.00 and gave the company an outperform rating in a report on Friday, August 13th. Scotiabank increased their price target on Brookfield Asset Management from $62.50 to $63.00 and gave the company an outperform rating in a report on Monday, August 16th. Finally, Zacks Investment Research downgraded Brookfield Asset Management from a buy rating to a hold rating in a report on Friday, August 13th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $57.50.

Shares of BAM opened at $54.45 on Tuesday. The firm has a market cap of $85.39 billion, a PE ratio of 30.94 and a beta of 1.25. The firm’s 50 day moving average price is $54.63 and its 200 day moving average price is $49.99. 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 twelve month low of $29.09 and a twelve month high of $57.83.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, August 11th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.26). The business had revenue of $18.29 billion for the quarter. Brookfield Asset Management had a net margin of 4.21% and a return on equity of 2.43%. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. On average, sell-side analysts anticipate that Brookfield Asset Management will post 2.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Tuesday, August 31st will be paid a $0.13 dividend. The ex-dividend date is Monday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. Brookfield Asset Management’s payout ratio is -433.33%.

Several institutional investors have recently made changes to their positions in BAM. Blueshift Asset Management LLC acquired a new stake in shares of Brookfield Asset Management in the first quarter worth $607,000. The PNC Financial Services Group Inc. lifted its position in Brookfield Asset Management by 10.0% in the first quarter. The PNC Financial Services Group Inc. now owns 234,303 shares of the financial services provider’s stock worth $10,427,000 after purchasing an additional 21,260 shares during the period. Sowell Financial Services LLC lifted its position in Brookfield Asset Management by 86.3% in the first quarter. Sowell Financial Services LLC now owns 6,924 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 3,208 shares during the period. Mariner LLC lifted its position in Brookfield Asset Management by 13.6% in the first quarter. Mariner LLC now owns 25,408 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 3,039 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Brookfield Asset Management by 34.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 72,780 shares of the financial services provider’s stock worth $3,239,000 after purchasing an additional 18,833 shares during the period. Institutional investors and hedge funds own 61.37% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management, Inc engages in 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 Power, Infrastructure, Private Equity, Residential Development, and Corporate Activities.

See Also: Outperform Rating

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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