Brookfield Asset Management (NYSE:BAM) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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

Brookfield Asset Management Trading Up 2.2 %

BAM stock traded up $1.21 on Tuesday, hitting $55.98. 898,639 shares of the company’s stock traded hands, compared to its average volume of 1,273,379. Brookfield Asset Management has a 1-year low of $30.59 and a 1-year high of $57.36. The stock has a market cap of $24.87 billion, a price-to-earnings ratio of 49.54, a P/E/G ratio of 2.55 and a beta of 1.42. The stock has a fifty day moving average of $47.19 and a 200-day moving average of $42.32.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Analysts Set New Price Targets

Several research firms have commented on BAM. BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday. Bank of America upped their target price on shares of 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 upped their target price on shares of 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 target price on shares of Brookfield Asset Management from $50.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $51.71.

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.