Brookfield Asset Management (NYSE:BAM) Announces Earnings Results

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) released its quarterly earnings results on Friday. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01), Zacks reports. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business posted $0.28 EPS.

Brookfield Asset Management Trading Down 1.3 %

NYSE:BAM traded down $0.51 during trading hours on Monday, hitting $39.12. The stock had a trading volume of 908,782 shares, compared to its average volume of 1,335,624. Brookfield Asset Management has a 1-year low of $28.35 and a 1-year high of $44.38. The company has a market cap of $17.36 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57. The business has a 50 day simple moving average of $39.59 and a two-hundred day simple moving average of $40.14.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 3.89%. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BAM. Scotiabank lowered their target price on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday. TD Securities boosted their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Royal Bank of Canada lifted their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $42.46.

Brookfield Asset Management Company Profile

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.