Brookfield Asset Management Ltd. to Issue Quarterly Dividend of $0.38 (NYSE:BAM)

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Monday, November 4th, Zacks reports. Investors of record on Friday, November 29th will be given a dividend of 0.38 per share by the financial services provider on Tuesday, December 31st. This represents a $1.52 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, November 29th.

Brookfield Asset Management has a dividend payout ratio of 91.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Brookfield Asset Management to earn $1.67 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 91.0%.

Brookfield Asset Management Trading Up 3.0 %

BAM opened at $54.77 on Tuesday. Brookfield Asset Management has a 12 month low of $30.59 and a 12 month high of $57.36. The company has a market cap of $24.33 billion, a PE ratio of 49.79, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. The company has a 50 day moving average of $47.19 and a 200 day moving average of $42.32.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during 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 period last year, the company earned $0.35 earnings per share. Research analysts forecast that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BAM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America boosted their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. The Goldman Sachs Group raised their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective 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. Finally, Scotiabank raised their target price on shares of Brookfield Asset Management from $45.50 to $55.50 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $49.41.

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.