Brookfield Asset Management (BAM) Given a $49.00 Price Target by Scotiabank Analysts

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) has been assigned a $49.00 target price by analysts at Scotiabank in a report released on Saturday. The firm presently has a “buy” rating on the financial services provider’s stock. Scotiabank’s price objective suggests a potential upside of 21.65% from the company’s current price.

BAM has been the topic of a number of other research reports. TheStreet raised shares of Brookfield Asset Management from a “c+” rating to a “b-” rating in a research note on Thursday, December 28th. Citigroup decreased their price objective on shares of Brookfield Asset Management from $50.00 to $49.50 and set a “buy” rating on the stock in a research note on Friday, November 10th. Royal Bank of Canada upped their price objective on shares of Brookfield Asset Management from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, TD Securities upped their price objective on shares of Brookfield Asset Management from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $48.42.

Shares of Brookfield Asset Management (NYSE BAM) opened at $40.28 on Friday. The firm has a market cap of $38,643.66, a PE ratio of 30.29 and a beta of 0.98. Brookfield Asset Management has a 52 week low of $35.30 and a 52 week high of $44.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.29 and a quick ratio of 1.01.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, February 15th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $1.13. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Brookfield Asset Management had a net margin of 3.58% and a return on equity of 2.09%. The firm’s revenue for the quarter was up 88.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share.

A number of institutional investors have recently modified their holdings of the business. Voya Investment Management LLC lifted its position in shares of Brookfield Asset Management by 11.1% during the second quarter. Voya Investment Management LLC now owns 10,274 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 1,028 shares in the last quarter. QS Investors LLC lifted its position in shares of Brookfield Asset Management by 69.8% during the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,150 shares in the last quarter. Karpas Strategies LLC lifted its position in shares of Brookfield Asset Management by 0.5% during the third quarter. Karpas Strategies LLC now owns 262,210 shares of the financial services provider’s stock worth $10,829,000 after purchasing an additional 1,275 shares in the last quarter. Steinberg Global Asset Management lifted its position in shares of Brookfield Asset Management by 2.3% during the third quarter. Steinberg Global Asset Management now owns 57,868 shares of the financial services provider’s stock worth $2,390,000 after purchasing an additional 1,327 shares in the last quarter. Finally, Sather Financial Group Inc lifted its position in shares of Brookfield Asset Management by 0.5% during the fourth quarter. Sather Financial Group Inc now owns 281,299 shares of the financial services provider’s stock worth $12,248,000 after purchasing an additional 1,331 shares in the last quarter. 54.31% of the stock is currently owned by hedge funds and other institutional investors.

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About Brookfield Asset Management

Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.

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