Brookfield Asset Management (NYSE:BAM) Releases Quarterly Earnings Results

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) announced its quarterly earnings results on Monday. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02, Zacks reports. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the company earned $0.35 earnings per share.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $55.56 on Wednesday. The stock has a 50 day moving average price of $47.46 and a 200 day moving average price of $42.45. Brookfield Asset Management has a 52 week low of $30.59 and a 52 week high of $57.36. The stock has a market capitalization of $24.68 billion, a PE ratio of 49.17, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.74%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Analyst Ratings Changes

Several equities research analysts have issued reports on BAM shares. Jefferies Financial Group started coverage on Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group upped their price objective on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. TD Securities upped their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets upped their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.29.

About Brookfield Asset Management

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.