Brookfield Asset Management (NYSE:BAM) Posts Earnings Results

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) issued its quarterly earnings results on Friday. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01), Zacks reports. The company had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. During the same period in the previous year, the company posted $0.28 EPS.

Brookfield Asset Management Trading Down 1.3 %

NYSE BAM traded down $0.51 during mid-day trading on Monday, hitting $39.12. The company’s stock had a trading volume of 908,782 shares, compared to its average volume of 1,335,624. The firm has a market capitalization of $17.36 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 1.95 and a beta of 1.57. The company’s 50 day simple moving average is $39.59 and its 200 day simple moving average is $40.14. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $44.38.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. Brookfield Asset Management’s dividend payout ratio is 140.74%.

Analyst Ratings Changes

A number of research firms have weighed in on BAM. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday. CIBC increased their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. Finally, Scotiabank dropped their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.46.

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.