Brookfield Asset Management Ltd. (NYSE:BAM) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Brookfield Asset Management Ltd. has received a consensus rating of "Moderate Buy" from nineteen brokerages, with an average 12-month price target of $63.52.
• The company recently reported earnings of $0.38 per share, falling short of the expected $0.39, with quarterly revenue of $1.11 billion compared to the forecast of $1.29 billion.
• Brookfield announced a quarterly dividend of $0.4375 per share, resulting in an annualized dividend yield of 2.9%.

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have earned an average recommendation of "Moderate Buy" from the nineteen brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $63.5156.

BAM has been the topic of several analyst reports. National Bank Financial initiated coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price objective on the stock. Piper Sandler dropped their target price on shares of Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. Wells Fargo & Company boosted their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a report on Friday, July 11th. Bank of America lowered shares of Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 target price on the stock. in a report on Thursday, September 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th.

Brookfield Asset Management Trading Up 1.6%

Shares of Brookfield Asset Management stock traded up $0.99 during trading on Friday, hitting $62.45. The company's stock had a trading volume of 70,064 shares, compared to its average volume of 2,082,278. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. Brookfield Asset Management has a 52 week low of $41.78 and a 52 week high of $64.10. The stock has a market cap of $102.28 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 2.19 and a beta of 1.44. The stock has a 50-day moving average price of $60.23 and a two-hundred day moving average price of $55.47.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. Equities research analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.4375 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 2.8%. Brookfield Asset Management's payout ratio is presently 117.45%.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors have recently made changes to their positions in the stock. ST Germain D J Co. Inc. acquired a new position in shares of Brookfield Asset Management during the first quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Brookfield Asset Management by 1,270.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 432 shares during the period. Rossby Financial LCC acquired a new position in shares of Brookfield Asset Management during the first quarter valued at about $28,000. Manchester Capital Management LLC raised its holdings in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 442 shares during the period. Finally, Sagard Holdings Management Inc. acquired a new position in shares of Brookfield Asset Management during the second quarter valued at about $39,000. Institutional investors and hedge funds own 68.41% of the company's stock.

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.