Brookfield Asset Management (NYSE:BAM) Announces Earnings Results

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

Brookfield Asset Management Trading Up 1.4 %

NYSE BAM opened at $55.56 on Wednesday. The stock has a 50-day simple moving average of $47.46 and a 200 day simple moving average of $42.45. The company has a market capitalization of $24.68 billion, a PE ratio of 49.17, a P/E/G ratio of 2.55 and a beta of 1.42. Brookfield Asset Management has a 12 month low of $30.59 and a 12 month high of $57.36.

Brookfield Asset Management Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BAM shares. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Royal Bank of Canada upped their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group upped their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Bank of America upped their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.