Brookfield Asset Management (NYSE:BAM) Issues Earnings Results

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) announced its earnings results on Wednesday. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01, Zacks reports. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%.

Brookfield Asset Management Trading Down 1.3 %

NYSE BAM opened at $54.90 on Wednesday. The firm’s fifty day moving average price is $56.45 and its two-hundred day moving average price is $50.86. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61. The firm has a market capitalization of $24.33 billion, a P/E ratio of 48.50, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

Analysts Set New Price Targets

Several research firms recently issued reports on BAM. TD Securities lifted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday. CIBC lifted their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, UBS Group began coverage on Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.58.

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.