Brokerages expect Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) to report earnings per share (EPS) of $0.79 for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Brookfield Asset Management's earnings. Brookfield Asset Management reported earnings of $0.10 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 690%. The firm is expected to announce its next earnings results on Thursday, November 11th.
On average, analysts expect that Brookfield Asset Management will report full year earnings of $2.17 per share for the current financial year. For the next fiscal year, analysts forecast that the firm will report earnings of $2.34 per share. Zacks' earnings per share calculations are an average based on a survey of analysts that follow Brookfield Asset Management.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, August 11th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.26). Brookfield Asset Management had a net margin of 4.21% and a return on equity of 2.43%. The company had revenue of $18.29 billion during the quarter. During the same period in the prior year, the business posted ($0.43) EPS.
A number of analysts recently weighed in on the company. Citigroup assumed coverage on Brookfield Asset Management in a report on Thursday, August 12th. They issued a "buy" rating and a $68.00 price objective for the company. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, August 13th. Scotiabank increased their price objective on Brookfield Asset Management from $62.50 to $63.00 and gave the company an "outperform" rating in a report on Monday, August 16th. TD Securities increased their price objective on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "action list buy" rating in a report on Sunday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Brookfield Asset Management from $57.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, June 18th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Buy" and an average target price of $56.00.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Timber Creek Capital Management LLC raised its position in Brookfield Asset Management by 4.3% in the 2nd quarter. Timber Creek Capital Management LLC now owns 231,276 shares of the financial services provider's stock worth $11,790,000 after purchasing an additional 9,640 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Brookfield Asset Management by 7.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 250,798 shares of the financial services provider's stock worth $12,943,000 after buying an additional 17,664 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Brookfield Asset Management by 15.8% in the first quarter. Blair William & Co. IL now owns 128,599 shares of the financial services provider's stock worth $7,352,000 after buying an additional 17,564 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Brookfield Asset Management by 34.2% in the first quarter. Ritholtz Wealth Management now owns 9,873 shares of the financial services provider's stock worth $439,000 after buying an additional 2,514 shares in the last quarter. Finally, Tandem Capital Management Corp ADV lifted its stake in shares of Brookfield Asset Management by 0.5% in the first quarter. Tandem Capital Management Corp ADV now owns 146,844 shares of the financial services provider's stock worth $6,535,000 after buying an additional 790 shares in the last quarter. 61.37% of the stock is owned by institutional investors.
NYSE BAM traded up $0.26 on Wednesday, reaching $55.46. The company had a trading volume of 65,595 shares, compared to its average volume of 2,676,939. The firm has a market cap of $86.97 billion, a price-to-earnings ratio of 31.50 and a beta of 1.25. Brookfield Asset Management has a fifty-two week low of $29.09 and a fifty-two week high of $57.83. The business has a 50 day moving average of $54.28 and a two-hundred day moving average of $49.53. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.04 and a quick ratio of 0.86.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Tuesday, August 31st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Monday, August 30th. Brookfield Asset Management's dividend payout ratio is currently -433.33%.
Brookfield Asset Management Company Profile
Brookfield Asset Management, Inc engages in the management of public and private investment products and services for institutional and retail clients. It operates through the following segments: Asset Management, Real Estate, Renewable Power, Infrastructure, Private Equity, Residential Development, and Corporate Activities.
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