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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) posted its quarterly earnings results 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. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates 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 company posted $0.35 EPS.

Brookfield Asset Management Stock Up 2.5 %

Shares of BAM stock opened at $56.96 on Thursday. The stock has a 50-day simple moving average of $47.78 and a 200 day simple moving average of $42.55. The stock has a market capitalization of $25.30 billion, a P/E ratio of 50.41, a P/E/G ratio of 2.55 and a beta of 1.42. Brookfield Asset Management has a fifty-two week low of $30.59 and a fifty-two week high of $57.36.

Brookfield Asset Management Announces Dividend

The company also recently disclosed 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Analyst Ratings Changes

BAM has been the subject of several research reports. 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 report on Thursday, August 8th. Bank of America upped their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research note on Tuesday. Finally, CIBC raised their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Three equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.29.

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.