Brookfield Asset Management (NYSE:BAM) Announces 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 (EPS) for the quarter, topping the consensus estimate 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

BAM traded down $0.68 during midday trading on Wednesday, hitting $54.97. The stock had a trading volume of 358,009 shares, compared to its average volume of 1,307,139. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61. The business has a fifty day moving average of $56.45 and a 200 day moving average of $50.86. The company has a market cap of $24.36 billion, a P/E ratio of 48.59, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

Analysts Set New Price Targets

Several brokerages have commented on BAM. The Goldman Sachs Group raised their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Scotiabank boosted their price objective on shares of Brookfield Asset Management from $59.50 to $63.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. UBS Group assumed coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada increased their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus price target 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.