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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) announced its quarterly earnings data on Monday. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02, Zacks reports. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company earned $0.35 EPS.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded up $1.21 during trading on Tuesday, reaching $55.98. The company had a trading volume of 898,639 shares, compared to its average volume of 1,273,379. The company has a market cap of $24.87 billion, a price-to-earnings ratio of 49.54, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. The firm’s fifty day moving average is $47.19 and its 200-day moving average is $42.32. Brookfield Asset Management has a fifty-two week low of $30.59 and a fifty-two week high of $57.36.

Brookfield Asset Management Dividend Announcement

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

Analyst Ratings Changes

BAM has been the subject of a number of research reports. Scotiabank upped their price target on shares of Brookfield Asset Management from $45.50 to $55.50 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research report on Tuesday. TD Securities upped their price target 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. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 price target for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.71.

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.