Brookfield Asset Management Ltd. (NYSE:BAM) Declares $0.50 Quarterly Dividend

Key Points

• Brookfield Asset Management declared a quarterly dividend of $0.5025 per share, payable September 29 to shareholders of record on August 31. The dividend implies an annualized payout of about $2.01 per share and a 3.8% yield.
• The company’s current payout ratio is high at 105.2%, meaning earnings do not fully cover the dividend; however, analysts expect next year’s earnings to support a roughly 99% payout ratio.
• Brookfield beat quarterly expectations with EPS of $0.44 versus $0.43 expected and revenue of $1.75 billion versus $1.47 billion projected. Analysts’ overall rating is “Hold,” with an average price target of $59.03.

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Monday, August 31st will be given a dividend of 0.5025 per share by the financial services provider on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 31st.

Brookfield Asset Management has a payout ratio of 105.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brookfield Asset Management to earn $2.03 per share next year, which means the company should continue to be able to cover its $2.01 annual dividend with an expected future payout ratio of 99.0%.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $52.58 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm's 50 day moving average is $47.16 and its 200-day moving average is $47.60. Brookfield Asset Management has a 12-month low of $42.20 and a 12-month high of $64.10. The stock has a market capitalization of $86.14 billion, a P/E ratio of 34.14, a P/E/G ratio of 2.11 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.47 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Equities research analysts anticipate that Brookfield Asset Management will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BAM has been the topic of several research reports. Royal Bank Of Canada dropped their price target on Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating on the stock in a report on Monday, May 11th. Weiss Ratings lowered Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 15th. Piper Sandler restated a "neutral" rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. JPMorgan Chase & Co. cut their target price on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. Finally, Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $59.03.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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