Brookfield Asset Management (TSE:BAM) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Brookfield Asset Management shares rose 7.9%, trading as high as C$73.74 and closing at C$73.16, above the 200-day moving average of C$65.79.
• Analyst sentiment remains positive: Royal Bank of Canada upgraded the stock to “moderate buy,” while the overall consensus rating is “Buy” with a C$75.00 price target.
• The company reported quarterly EPS of C$0.53 on C$1.98 billion in revenue and paid a quarterly dividend of $0.5025 per share, equivalent to a 2.7% annualized yield.

Brookfield Asset Management Ltd. (TSE:BAM - Get Free Report) NYSE: BAM crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$65.79 and traded as high as C$73.74. Brookfield Asset Management shares last traded at C$73.16, with a volume of 2,763,260 shares traded.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada raised shares of Brookfield Asset Management to a "moderate buy" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of "Buy" and a consensus price target of C$75.00.

Brookfield Asset Management Trading Up 7.9%

The company has a market capitalization of C$116.82 billion, a price-to-earnings ratio of 46.90, a P/E/G ratio of 0.43 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 38.61. The business's 50 day moving average price is C$66.11 and its two-hundred day moving average price is C$65.79.

Brookfield Asset Management (TSE:BAM - Get Free Report) NYSE: BAM last released its quarterly earnings data on Friday, May 8th. The company reported C$0.53 earnings per share (EPS) for the quarter. The business had revenue of C$1.98 billion during the quarter. Brookfield Asset Management had a net margin of 50.79% and a return on equity of 30.18%. On average, equities analysts predict that Brookfield Asset Management Ltd. will post 2.5564428 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a dividend of $0.5025 per share. The ex-dividend date was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 2.7%. Brookfield Asset Management's payout ratio is currently 116.35%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world - including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

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