Brookfield Asset Management (NYSE:BAM) Announces Quarterly Earnings Results

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) posted its earnings results on Wednesday. The financial services provider reported $0.40 earnings per share 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 Trading Down 1.2 %

BAM traded down $0.68 during trading on Wednesday, hitting $54.97. 358,009 shares of the company’s stock traded hands, compared to its average volume of 1,307,139. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 48.59, a PEG ratio of 2.18 and a beta of 1.46. The company’s 50 day simple moving average is $56.45 and its two-hundred day simple moving average is $50.86. Brookfield Asset Management has a 12-month low of $37.29 and a 12-month high of $62.61.

Analysts Set New Price Targets

BAM has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. TD Securities raised their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday. Finally, UBS Group initiated coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.58.

About Brookfield Asset Management

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.