Brookfield Asset Management (NYSE:BAM) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Brookfield Asset Management Stock Performance

BAM traded up $2.08 during midday trading on Friday, reaching $59.65. 257,544 shares of the company were exchanged, compared to its average volume of 1,421,182. The stock has a market capitalization of $26.43 billion, a P/E ratio of 52.77, a PEG ratio of 2.18 and a beta of 1.46. The stock’s 50-day simple moving average is $56.40 and its 200 day simple moving average is $50.94. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.4375 per share. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 2.93%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Analysts Set New Price Targets

Several analysts have recently commented on BAM shares. HSBC upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company decreased their price target on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a report on Thursday. Scotiabank decreased their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, CIBC raised their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.71.

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.