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

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 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, November 29th.

Brookfield Asset Management has a 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 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 Stock Performance

Brookfield Asset Management stock opened at $54.77 on Tuesday. Brookfield Asset Management has a fifty-two week low of $30.59 and a fifty-two week high of $57.36. The stock has a market cap of $24.33 billion, a price-to-earnings ratio of 49.79, a PEG ratio of 2.55 and a beta of 1.42. The stock’s 50 day simple moving average is $47.19 and its two-hundred day simple moving average is $42.32.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $0.35 earnings per share. On average, analysts predict that Brookfield Asset Management will post 1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BAM. Scotiabank lifted their price target on shares of Brookfield Asset Management from $45.50 to $55.50 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group upped their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. dropped their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.32.

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.