Brookfield Asset Management Ltd. (NYSE:BAM) Plans $0.38 Quarterly Dividend

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.38 per share by the financial services provider on Friday, September 27th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Friday, August 30th.

Brookfield Asset Management has a dividend payout ratio of 91.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Brookfield Asset Management to earn $1.71 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 88.9%.

Brookfield Asset Management Stock Up 0.5 %

Shares of BAM opened at $41.90 on Wednesday. The company has a 50 day moving average of $40.06 and a two-hundred day moving average of $40.16. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $44.38. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 38.80, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted $0.28 EPS. On average, sell-side analysts expect that Brookfield Asset Management will post 1.47 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on BAM. JPMorgan Chase & Co. lowered their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. TD Securities raised their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. CIBC raised their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price on the stock. Two 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’s stock. According to data from MarketBeat.com, the stock 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.