Brookfield Asset Management Stock Price Forecasts Rise

Brookfield Asset Management (NYSE:BAM) saw an increase in its price target by TD Securities, moving from $61.00 to $64.00 as stated in a report released on Tuesday. This upgrade aligns with a "buy" rating from the firm for the financial services provider. The revised pricing suggests a potential upside of about 14.57% from Brookfield's current stock price.

In addition to TD Securities' report, other analysts have shared their insights on the stock. Notably, StockNews.com recently decreased its rating for Brookfield Asset Management from "hold" to "sell" on August 7. Meanwhile, Royal Bank of Canada adjusted its price target from $55.00 to $68.00, endorsing the company with an "outperform" rating. Furthermore, Jefferies Financial Group began coverage of Brookfield, assigning a "hold" rating with a price target of $43.00.

Additionally, Wells Fargo & Company raised their price objective for Brookfield from $48.00 to $51.00, placing an "underweight" rating on the stock. Deutsche Bank also increased its target from $51.00 to $56.00 and provided a "buy" recommendation. The stock evaluations are varied, with three analysts rating it as a sell, five as a hold, and another five as a buy, according to market consensus. Presently, the stock carries an average rating of "Hold" with a consensus target price set at $51.96.

Market Performance Overview

During trading hours on Tuesday, Brookfield Asset Management shares increased by $1.09, bringing the price to $55.86. The trading volume reached 917,948 shares, which is less than the average of 1,273,577 shares. Over the past year, the stock has fluctuated between a low of $30.59 and a high of $57.36. Brookfield Asset Management boasts a market capitalization of approximately $24.82 billion, a PE ratio of 49.67, and a price-to-earnings-growth ratio of 2.55. The company has established a 50-day simple moving average of $47.19 and a 200-day moving average of $42.32.

Recent Earnings News

Brookfield Asset Management released its latest earnings results on November 4, reporting an earnings per share (EPS) of $0.38, surpassing analysts' predictions of $0.36 by $0.02. The company's revenue for the quarter was $1.12 billion, slightly below the anticipated $1.19 billion. Notably, Brookfield enjoyed a strong net margin of 51.29% and a substantial return on equity of 92.37%. When compared to the same quarter last year, the current earnings reflect an increase from $0.35 EPS. Looking ahead, analysts project that Brookfield Asset Management will generate earnings of approximately 1.43 EPS for the current fiscal year.

Institutional Investor Activity

In recent months, various hedge funds have made adjustments to their positions in Brookfield Asset Management. For instance, Hara Capital LLC acquired shares of the company worth about $27,000 during the third quarter. Additionally, Massmutual Trust Co. FSB ADV boosted its share holdings by 98.2% in the second quarter. Now owning 777 shares, its total value has reached $30,000 after adding 385 shares. Continuum Advisory LLC also saw a 57.6% increase in its holdings during the same period, now owning 780 shares valued at $30,000.

Moreover, Whittier Trust Co. of Nevada Inc. increased its position in Brookfield by 574.2% during the first quarter, now holding 890 shares valued at $37,000 after acquiring an additional 758 shares. Similarly, Richardson Financial Services Inc. raised its position in Brookfield by 368.3% in the second quarter, owning 960 shares worth $37,000 after adding 755 more shares. Currently, institutional investors and hedge funds own approximately 68.41% of Brookfield Asset Management's stock.

Company Overview

Brookfield Asset Management Ltd. specializes in real estate investments and alternative asset management services. It operates a diverse renewable power and transition business, with interests in hydroelectric, wind, solar, and other sustainable sectors. Moreover, its infrastructure segment engages in utilities, transport, midstream, and data sectors.

Brookfield, Stock, Earnings