Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Rating of “Moderate Buy” by Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $42.50.

Several equities analysts recently weighed in on the company. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. BMO Capital Markets boosted their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, February 8th. CIBC increased their price target on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. TD Securities reduced their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a report on Tuesday, January 9th. Finally, Scotiabank raised their price objective on Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 8th.

Brookfield Asset Management Stock Down 0.4 %

BAM opened at $39.78 on Wednesday. The stock has a market cap of $16.44 billion, a PE ratio of 35.20, a PEG ratio of 1.51 and a beta of 1.72. The business has a 50 day moving average of $40.61 and a 200-day moving average of $38.20. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. The company had revenue of $1.13 billion during the quarter. During the same period last year, the business earned $0.31 EPS. Equities analysts anticipate that Brookfield Asset Management will post 1.49 EPS for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds have recently made changes to their positions in BAM. YHB Investment Advisors Inc. purchased a new stake in Brookfield Asset Management in the 1st quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares during the period. Quent Capital LLC raised its position in shares of Brookfield Asset Management by 62.4% during the 1st quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 435 shares during the last quarter. Signaturefd LLC raised its position in shares of Brookfield Asset Management by 106.4% during the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 764 shares during the last quarter. Finally, Bfsg LLC acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth approximately $51,000. 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.