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

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A posted 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 net margin of 49.69% and a return on equity of 85.03%.

Brookfield Asset Management Trading Up 4.0 %

Shares of NYSE BAM traded up $2.29 during midday trading on Friday, hitting $59.86. The company's stock had a trading volume of 1,928,737 shares, compared to its average volume of 1,329,742. The stock has a fifty day moving average price of $56.45 and a 200 day moving average price of $51.12. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The firm has a market capitalization of $26.53 billion, a price-to-earnings ratio of 52.98, a P/E/G ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 2.92%. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's payout ratio is 134.51%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. HSBC upgraded shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating for the company in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Wells Fargo & Company reduced their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an "underweight" rating for the company in a report on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.71.

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.