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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target decreased by equities research analysts at Scotiabank from $62.50 to $58.00 in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price target suggests a potential upside of 35.31% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a report on Thursday, March 20th. TD Securities raised their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. CIBC upped their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, UBS Group started coverage on Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $57.75.

Brookfield Asset Management Stock Down 1.6 %

NYSE:BAM opened at $42.86 on Monday. The stock has a market capitalization of $70.18 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.92 and a beta of 1.63. Brookfield Asset Management has a 52 week low of $37.29 and a 52 week high of $62.61. The firm has a 50 day moving average of $52.84 and a 200 day moving average of $53.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, analysts expect that Brookfield Asset Management will post 1.7 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAM. Truvestments Capital LLC grew its position in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in Brookfield Asset Management in the fourth quarter valued at approximately $32,000. Versant Capital Management Inc increased its position in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after buying an additional 325 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.