Brookfield Asset Management (TSE:BAM) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$78.14 and traded as low as C$72.11. Brookfield Asset Management shares last traded at C$72.13, with a volume of 559,293 shares.

Analysts Set New Price Targets

Separately, UBS Group upgraded Brookfield Asset Management to a “hold” rating in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$79.00.

Brookfield Asset Management Price Performance

The company’s fifty day simple moving average is C$73.78 and its 200-day simple moving average is C$78.14. The firm has a market capitalization of C$116.18 billion, a PE ratio of 46.54, a price-to-earnings-growth ratio of 0.43 and a beta of 1.55.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last posted its quarterly earnings data on Friday, November 7th. The company reported C$0.64 earnings per share for the quarter. Brookfield Asset Management had a return on equity of 32.14% and a net margin of 65.13%.The firm had revenue of C$1.73 billion during the quarter. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 2.5564428 earnings per share for the current fiscal year.

Brookfield Asset Management Company Profile

Brookfield Corp, formerly Brookfield Asset Management Inc owns and manages the commercial property, power, and infrastructure assets. Its investment focus includes Real Estate, Infrastructure, Renewable Power and Private Equity. Real Estate is made up of office and retail properties; Renewable power is made up of hydroelectric, wind, solar, and storage generating facilities; Infrastructure is made up of utilities, transport, energy, data infrastructure, and sustainable resource assets; and Private Equity is focused on business services, infrastructure services, and industrial operations.