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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) released its quarterly earnings results on Wednesday. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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 Up 3.6 %

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

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.93%. Brookfield Asset Management’s payout ratio is presently 134.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BAM. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. CIBC lifted their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods dropped their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Three equities research 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 data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and an average target price of $56.71.

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.