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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) issued its quarterly earnings data 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 Price Performance

Shares of BAM traded up $1.92 during trading hours on Thursday, hitting $57.04. The stock had a trading volume of 87,755 shares, compared to its average volume of 1,346,364. The firm has a 50 day simple moving average of $56.41 and a 200-day simple moving average of $50.89. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61. The firm has a market capitalization of $25.28 billion, a P/E ratio of 50.11, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

Wall Street Analyst Weigh In

BAM has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 14th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Keefe, Bruyette & Woods cut their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada upped their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Scotiabank raised their price target on shares of Brookfield Asset Management from $59.50 to $63.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Three equities research 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. According to data from MarketBeat, the stock currently 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.