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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average rating of “Moderate Buy” by the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $62.0625.

Several equities research analysts recently issued reports on the company. Scotiabank reissued an “outperform” rating and set a $66.00 price target (down from $69.00) on shares of Brookfield Asset Management in a research report on Wednesday, July 30th. Bank of America raised Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Thursday, April 10th. National Bank Financial began coverage on Brookfield Asset Management in a research report on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 target price on the stock. Piper Sandler began coverage on Brookfield Asset Management in a research report on Monday, June 30th. They issued a “neutral” rating and a $60.00 target price on the stock. Finally, Jefferies Financial Group dropped their target price on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th.

Brookfield Asset Management Stock Performance

BAM stock opened at $61.57 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. The firm has a market cap of $100.83 billion, a P/E ratio of 43.67, a P/E/G ratio of 2.36 and a beta of 1.44. Brookfield Asset Management has a 12-month low of $38.18 and a 12-month high of $63.53. The stock’s 50 day simple moving average is $57.45 and its 200 day simple moving average is $54.94.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. As a group, equities research analysts predict that Brookfield Asset Management will post 1.7 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. FMR LLC increased its holdings in shares of Brookfield Asset Management by 2.3% during the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after purchasing an additional 447,642 shares during the period. Vanguard Group Inc. grew its holdings in Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock worth $832,833,000 after acquiring an additional 302,852 shares during the period. Capital International Investors grew its holdings in Brookfield Asset Management by 0.7% during the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after acquiring an additional 116,008 shares during the period. TD Asset Management Inc grew its holdings in Brookfield Asset Management by 1.6% during the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock worth $861,101,000 after acquiring an additional 250,068 shares during the period. Finally, FIL Ltd grew its holdings in Brookfield Asset Management by 3.9% during the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after acquiring an additional 574,978 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

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.