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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) released its earnings results on Wednesday. The financial services provider reported $0.40 earnings per share (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 Performance

Shares of BAM traded up $1.92 during mid-day trading on Thursday, hitting $57.04. 87,755 shares of the company traded hands, compared to its average volume of 1,346,364. The stock has a market cap of $25.28 billion, a price-to-earnings ratio of 50.11, a P/E/G ratio of 2.18 and a beta of 1.46. The stock has a 50-day moving average price of $56.41 and a two-hundred day moving average price of $50.89. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61.

Analysts Set New Price Targets

A number of brokerages have issued reports on BAM. Keefe, Bruyette & Woods lowered their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. BMO Capital Markets increased their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Scotiabank boosted their price objective on Brookfield Asset Management from $59.50 to $63.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price target on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.58.

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.