Brookfield Asset Management Ltd. Declares Quarterly Dividend of $0.44 (NYSE:BAM)

Key Points

• Brookfield Asset Management Ltd. declared a quarterly dividend of $0.44, with stockholders of record receiving it on September 29th, reflecting a yield of 2.9%.
• The company's dividend payout ratio stands at 91.6%, indicating it is currently covered by earnings, although future earnings fluctuations could affect this coverage.
• Equity analysts have varying ratings on Brookfield, with an average target price of $62.33 and a consensus rating of "Moderate Buy" among analysts observing the stock.

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.4375 per share by the financial services provider on Monday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th.

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. Equities analysts expect Brookfield Asset Management to earn $1.99 per share next year, which means the company should continue to be able to cover its $1.75 annual dividend with an expected future payout ratio of 87.9%.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded down $2.02 on Thursday, hitting $60.92. The company had a trading volume of 2,348,620 shares, compared to its average volume of 2,113,354. The company has a market cap of $99.76 billion, a PE ratio of 43.20, a PEG ratio of 2.37 and a beta of 1.44. The business has a 50 day moving average of $57.58 and a 200 day moving average of $54.99. Brookfield Asset Management has a 52-week low of $38.32 and a 52-week high of $64.10. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.40. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BAM. CIBC raised their price target on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Thursday. Morgan Stanley increased their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Wells Fargo & Company raised their price objective on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a report on Friday, July 11th. Finally, Royal Bank Of Canada assumed coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.33.

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.

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