Brookfield Asset Management Upgraded to Hold

On Thursday, equities research analysts at StockNews.com upgraded Brookfield Asset Management (NYSE:BAM - Get Free Report) from a "sell" rating to a "hold" rating in a recent research report.

Brookfield Asset Management is part of an evolving investment landscape, where analysts' perspectives are crucial in guiding investor decisions. This upgrade signifies a shift in sentiment towards the company, indicating potential stability amid fluctuating market conditions.

Recent Analyst Opinions

Moreover, other analysts have provided their insights on Brookfield Asset Management. For instance, Keefe, Bruyette & Woods reduced their price target for the company from $57.00 to $56.00, assigning an "underperform" rating. In contrast, HSBC Global Research raised their rating from "hold" to "strong-buy." Scotiabank also adjusted their price target downward from $63.00 to $62.50 but maintained an "outperform" rating. Additionally, Wells Fargo & Company lowered their target price to $50.00 while categorizing the company as "underweight." CIBC raised their target price from $63.00 to $70.00 and advised an "outperform" stance.

Currently, the consensus among analysts shows a mixed outlook: two have rated the stock as a sell, five as hold, eight as buy, and one as strong buy. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" with an average price target set at $56.38.

Performance Metrics

As for the stock's performance, shares of Brookfield traded down $0.35 on Thursday, landing at $49.35. The trading volume was 1,753,881 shares, exceeding the firm's average of 1,304,686. Over the past year, the stock has seen a low of $37.29 and a high of $62.61. Key performance indicators include a market capitalization of $21.87 billion and a price-to-earnings ratio of 37.38.

Earnings Insights

Brookfield Asset Management last reported earnings on February 12, where they posted earnings per share (EPS) of $0.40, slightly exceeding the expected $0.39. With a net margin of 54.47% and a remarkable return on equity of 81.16%, the company demonstrates strong financial health. Analysts are projecting that Brookfield will achieve an EPS of 1.7 for the current fiscal year.

Institutional Ownership Changes

Interest from institutional investors has shifted, with several hedge funds modifying their positions in Brookfield. For example, Geode Capital Management expanded its holdings by 11.6%, owning 1,611,859 shares valued at approximately $77 million. Laffer Tengler Investments increased its stake by 24.2%, acquiring 147,773 shares. Furthermore, Avior Wealth Management had a substantial increase in position by 2,857.1%, alongside Plato Investment Management which also saw a 173.7% boost in its holdings. Currently, 68.41% of Brookfield's stock is held by institutional investors.

Company Overview

Brookfield Asset Management Ltd. specializes in real estate investment and alternative asset management. They operate within sectors like renewable power, including hydroelectricity, wind, and solar, alongside infrastructure involving utilities, transport, and data.

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