Brookfield Asset Management (NYSE:BAM) Releases 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. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $0.35 EPS.

Brookfield Asset Management Stock Up 2.5 %

NYSE BAM opened at $56.96 on Thursday. The stock has a market capitalization of $25.30 billion, a PE ratio of 50.41, a price-to-earnings-growth 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. The company has a 50 day moving average price of $47.78 and a two-hundred day moving average price of $42.55.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s payout ratio is presently 134.51%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday. CIBC lifted their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada raised their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.