Media coverage about Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) has been trending somewhat positive recently, Accern Sentiment Analysis reports. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Brookfield Asset Management earned a daily sentiment score of 0.23 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 46.1532820575585 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern’s analysis:
- Retired banker a fan of Brookfield Asset Management’s stock (theglobeandmail.com)
- Brookfield Asset Management Inc (BAM) Position Up in Latest Report from Legal & General Group Plc (highlightpress.com)
- Investor Watch on Shares of Brookfield Asset Management Inc (BAM) - Bulletin News (orobulletin.com)
- Putting Brookfield Asset Management Inc (BAM) Under the Microscope: Technicals Watch - Stock Press Daily (stockpressdaily.com)
- Brookfield Asset Management Inc (NYSE:BAM) Scheduled to Post Earnings on Thursday (americanbankingnews.com)
Several research analysts recently weighed in on BAM shares. Royal Bank Of Canada upped their target price on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $45.00 target price on shares of Brookfield Asset Management in a report on Friday, May 12th. TD Securities reaffirmed a “buy” rating on shares of Brookfield Asset Management in a report on Saturday, May 13th. ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Brookfield Asset Management presently has a consensus rating of “Buy” and an average price target of $41.57.
Brookfield Asset Management (NYSE BAM) traded up 0.44% on Friday, hitting $38.68. 634,915 shares of the company’s stock traded hands. Brookfield Asset Management has a one year low of $32.04 and a one year high of $40.09. The stock has a 50-day moving average of $38.98 and a 200-day moving average of $37.22. The stock has a market cap of $37.08 billion, a PE ratio of 31.02 and a beta of 1.03.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, May 11th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.26. Brookfield Asset Management had a net margin of 5.39% and a return on equity of 2.12%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter last year, the business earned $0.69 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts forecast that Brookfield Asset Management will post $1.32 earnings per share for the current fiscal year.
Brookfield Asset Management announced that its Board of Directors has initiated a stock buyback plan on Friday, May 19th that authorizes the company to repurchase 82,960,000 outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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