Brookfield Asset Management (NYSE:BAM) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

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 firm had revenue of $916.00 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $0.28 EPS.

Brookfield Asset Management Trading Down 1.3 %

Shares of NYSE:BAM traded down $0.51 during trading on Monday, reaching $39.12. The company’s stock had a trading volume of 908,782 shares, compared to its average volume of 1,335,624. The stock has a market capitalization of $17.36 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57. Brookfield Asset Management has a 12 month low of $28.35 and a 12 month high of $44.38. The firm’s 50 day simple moving average is $39.59 and its two-hundred day simple moving average is $40.14.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $0.38 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.89%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. CIBC raised their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. Royal Bank of Canada raised their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. JPMorgan Chase & Co. dropped their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Scotiabank lowered their price target on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.